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.
No Positions
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Stocks..
Spu's...are stuck. A new signal will be generated if we close over 1615 or under
1590.
GDX... 25.17-44? is first daily resistance.
GDXJ...38.48 is resistance followed by 40. No you're not seeing things!
This closed at 9.16 on Friday.
When ETF's evaporate due to the fees charged, they simply multiply them by four
so they can make all those fees again!
BLK ( Blackrock) mints money on ETF's. Someone remind me to take another look at this company if it gets back to the mid $230's.
Bonds...
30 yr. 134.20 is short term support with sell stops below.
TLT...110.77 is resistance. A close over 111.62 is needed to confirm more upside.?108.58 is closing support.
Bonds will be all about Friday's Payroll #
FX...
AUD/USD...double bottomed @ 91.10 in early Asia. Treat that as a trad able low and a closing macro pivot.
AUD/JPY...92.44 is the 200 day mvg avg.
USD/JPY...20 pips either side of parity will be a no man's land for traders today.
Commodities...
Gold...1275 +- a couple of dollars is the first significant resistance level.
Silver...Hit our first tgt in early Asia of $20.
General Comments or Valuable Insight
The Asian session showed the Yen crosses following through from the opening.?Yen weakness against Aussie & Kiwi strength.
The equity Indices are stuck and we're not interested to trade these.
It's the first day of a new month and qtr, so expect some income averaging buying in the early New York session in Equities.
The Nikkei is the strong Bourse on the back of a weakening Yen, something we've?pointed out repeatedly over the past couple of weeks.
This will be a shortened Holiday week with many instruments trading 1/2 day on Wed, no trading Thursday in the U.S.,followed by light volume Payroll Data Friday.
All traders should cut back their size this week.
Short Term View...
Whether you are trading Equities,Bonds FX or a Commodity it makes no difference, use Friday's closes in everything as your short term pivots. Good above, negative below.
Time to be a technical trader and robotic ally trade the extremes. Forget the fundamentals.
Pay close attention to your time frames and ebbing capital flows.
For Glossary of terms and abbreviations click here.
