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..
Stocks..
GLD...122.88-123.33 is resistance. Closing above this level will lead to a test of 125.
AGQ...a close above 17 is needed for a try at 19.
GDX...technicians will be looking for an upside breakout above 23.70 to hold and go?back to the 25.30's.
XLU...as long as this maintains over the 200 day mvg of 37.20 we like the chart.
Bonds...
FX...
AUD/JPY...92.77 is the 200 day mvg avg is?resistance and has been rejecting closing attempts since mid June. Closing above 93.14 would start a new leg up in this cross.
EUR/AUD...looks heavy. Short term sell stops lie under 140.75.
AUD/USD...92.00 remains closing resistance.
Commodities...
?
Gold...1259 is where the resting buy stops are with 1277 resistance
Silver... as long as this remains above 18.93 this remains firm.
Oil... 102.15-20 was yesterday's support. As long as we maintain above
this area Oil is in rally mode.
Soybeans (X)...the November contract looks to have bottomed. 12.79 is first resistance.?We're looking for a low risk place to buy over the next few days.
General Comments or Valuable Insight
We're coming into earnings season which means it's time to have out your calendar for potential names in play.
The beginning of the week showed the usual suspects "GOOG, NFLX,PCLN,AMZN" are still the darling holdings of major hedge funds as evidenced by their relative performance to the rest of the board.
You should not feel the need to do anything unless you're really happy with the trade location.
Missing a trade is one thing, losing money quite another.
Short Term View...
Whether you are trading Equities,Bonds FX or a Commodity it makes no difference, use 6/28/13 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.