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 DB ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 30.24??????????? 29 Close???
LONG?GILD ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 105.14??????? 103.50 Close
?SHORT? JYAH?????????????????????????? ?? ?? 84.52
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Today's Working Orders
No working orders.
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Stocks...
SPU's...need a close above 2065 to start another leg higher. 2035 is pattern support.
The point & figure shows congestion between 2061-2072. Let the market work through this level. It's not a great spot to initiate new longs.
Nasd 100...gains upside momentum with a close over 4265.
GS...182.00 is the upside momentum #.
DIG...by holding 50.50 look for a test 52.95-53.20 then 55.
Bonds ...
30 Yr. Futures...the carry trade continues. This continues to be the favorite way for Non-U.S. investors to Buy dollars selling Euro ect and buying our Treasuries.
As long as the 30 remains above 149.10 it will remain bid.
FX...
USD/JPY...a close over 118.90 is needed to confirm more downside in the Yen.(under 84.10 Futures).?
Commodities...
OIL...is biding time on the point & figure chart trading in a 3 dollar range. price action under 45.75 is needed for another flush lower.
General Comments or Valuable Insight
I bought Deutsche Bank (DB) as a surrogate long on the DAX.
GILD...put in an ORH day. The Full swing from today is 20 dollars higher via the stranded close @ 108.45 (first macro resistance and the closing upside pivot.)
Markets have come a long way over the past 4 sessions.
Spu's & Nasd have rallied to unchanged on the year since Friday's early London low.
It was a big standard deviation move, one that needs to digest.
Today can be a back and fill day in front of Sunday's Greek vote.
I thought Yen had a chance to add to the Dollar dance last night.It needed to do it in the Asian session last night where it went right back to it's pivot and stopped lick a rock.
It's just the wrong way on the crosses for now.
SPU's
GILEAD SCIENCES?
DEUTSCHE BANK
? WTI
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.