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
LONG EFA 66 3/06/15 Call ? ? ? ? ? ? ? ? .13
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Today's Working Orders
SELL 30 EFA 3/06/15 66 Calls...when EFA prints 66.
Stocks...
Long NASD 100 & Spu's vs Short treasuries have been grinding. Both need to hold on the daily charts to not roll over.
The weekly Spu/Bonds show a topping pattern, at least one that needs time to work off an overbought condition to go higher.
The Bond side has been a big mover with the Indices doing relatively little.
I've had an initial upside target generated in Oct of 2120 Spu's.
It's been published on my quarterly outlook.
The market knows the level. I have higher targets but a break would be healthy to make the trade a little easier.
Bonds ...
30 Yr. Bonds...June Bonds take the lead today. There is an enormous spread and lack of liquidity. Volatility will be up in this trade.
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FX...
DXH5...Dollar Index needs a close over 95.45 to confirm yesterday's pattern and not just be another one day 2 hour move to the other end of the range.
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Commodities...
OIL...49.90-50 is resistance.
The trade has been Long Brent/Short WTI. Brent has been relatively stable with WTI being the wagging tail.
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General Comments or Valuable Insight
It's the last day of the month and the Equity indices grind. The action is names releasing earnings in Bio Pharma, New tech and fast food.
Today it's Splunk & Monster up 10%.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
