While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Current Positions
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working Orders
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Stocks...
Nasd 100...3633 is closing support.
JPM & COF put in ORH days. The financials are starting to catch a bid.
XLF... came close to an ORH day and the chart pattern looks positive.
Bonds...
30 yr. Bonds... are currently the dog on the spread.
The next time I put my pants on, I'll remind myself to put both legs in.
FX...
GBP/USD...166.70 will be pivotal for sterling the rest of the month.
USD/CHF...88.70 ( app 112.75 futures is resistance and the upside closing pivot in the Suisse.)
EUR/USD...137.75 is resistance and the upside closing pivot.
Commodities...
OIL... 99.50 is support and the downside pivot for another dollar.
Gold & Silver...are both probing their respective 200 day mvg avg.
General Comments or Valuable Insight
Monday is a holiday. Globex will trade limited hours Sunday through Monday's London's close.
Last night's lows in the Equity indices would need to be breached for any sell off to materialize.
A lot of instruments have had big runs. It's time to search the board for the laggards.
Nikkei is under it's 200 day mvg avg which has kept the Yen firm.
USD/JPY closing under 101.30 culd finally give way to the 200 day around parity.
99.65 USD/JPY ( 100.45 Futures still looks to be a low risk sell zone the first time up)
Opening Range Time Frame Trading again today.
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We are positive Equities.
For Glossary of terms and abbreviations click here.