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
USO PUT Long 28 FEB? 36.50???????????????????????????? 0.26
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
Sell 25 Contracts... USO Puts 28 FEB 36.50 @ 0.57 cents
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Stocks...?
Nasd 100...3633 is closing support. NASDAQ leads, this is where all the social enabling and healthcare biotech names are.
VIX...is holding support @ 14.25. Sustained price action above 16.80 is needed for a rally.
XLI...needs to hold 51.30 for higher
XLP...remains positive above 41.40-60
BHP...the low risk buy zone is 68.50. Sustaining higher on the week can lead to a test of 73. I'd prefer to buy a break and not chase strength in this name
GDXJ...by holding 41.88 this has the potential to rally another 5-10%.
Closing under that support will lead to a test of the 200 day and chart support @ 38.90-39.33.
Bonds...
30 yr Bonds...rsi's are neutral. Closes over 133.21 are needed for higher prices (lower yields)
FX...
EUR/USD... 137.75-90 is resistance and the upside closing pivot.
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Commodities...
OIL...103 is resistance. 103.45 is the upside pivot. Price action over this level could lead to a test of near 105 before exhausting.
Presently, Oil needs some price action into the 101.50's for a move closer to 100.
Natgas...for all those that wish to pick a top, Don't think about it until late Wed. The rally does not look to be over.
Soybeans...are into the 200 day mvg avg again @ 13.75. price action and closes over 13.85 are needed for another move up.
Silver...needs to maintain over 21.95 to believe in a move higher.
General Comments orValuable Insight
Sentiment can be a bitch and right now so is the intra day stock sector rotation.
Spu/Bonds have been flailing back and forth @ the 50 Day mvg avg for a week.
The daily chart shows the completion of a wave 4 up Friday. The weekly needs to hold in here as well.
The Equity indices having attempted moves in both directions last night, and seem to be waiting new direction from the U.S.
Opening Range Time Frame Trading again today.
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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.
