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?GLD??? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?125 ? ? ??????? 125? Stp Close
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Today's Working Orders
SELL?GLD ? @ 125 Stp Close GTC
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Stocks...
BIIB...294.45 is 200 DMA and monthly trend support. 302 is the Monthly ORL #, the level that needs to hold for a positive pattern at month end.
BA...Boeing reports today. 130.30 is the 200 DMA resistance.
This one needs minimally price action back over the 50 DMA, and a close over 131.85 negate the current pattern.
CTRX, DAL,FCX,FB,GD,FFIV,GILD,GSK are other notable names reporting today.
Bonds...
30 yr. Bonds...as long as 137.30 holds on breaks they will continue higher.
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FX...
AUD/USD...94.60 is resistance and the closing upside pivot.
There is the potential for a 120 point swing up.
The Futures are trading @ a 34 point discount to cash.
EUR/AUD...is getting oversold on the shorter time frame charts.
Given it's mid-week, I wouldn't be in a hurry to sell weakness, however the monthly charts show there are bigger things afoot.
Commodities...
Gold...strengthens over 1326. 1300 is support.
Oil...the path of least resistance is first up. 103.10-40 is first resistance. 103.90 is second resistance @ the 50 DMA.
That will complete the expected wiggle for this move.
General Comments orValuable Insight
Opportunity will be in the individual names.
Day Traders, trade the time frames and keep taking your money.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.