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
Short Euro ?????????????????????????? ? ?? 136.31????????????? 136.85?? GTC
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Today's Working Orders
BUY Euro @ 133.75 OCO 136.85 Stop GTC ( Good Until Canceled)
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Stocks...
XLE & DIG...both put in ORH days.
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Bonds...
30 Yr. Bonds...need new price action either above or below yesterday's range for new direction.
FX...
NZD/USD...86.70 was last qtr's close in the Kiwi, making the first price action above this level a poor place to look for follow through without some further price action.
AUD/NZD....blew off on the rate rise last night with an ORL day, slicing through it's 200 DMA to the 50 DMA weekly support and unchanged on the year @ 108.49.
GBP/USD....needs a close over 168.50 to gain upside momentum from here.
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Commodities...
Grains...we gave it a try at a good level. We'll shelve our interest until mid July when we'll revisit the sector.
Oil...has elected the long term buy stops last night over 105.30.
General Comments orValuable Insight
As the Mideast unravels going into the summer heat, money is flowing into Sterling and the Commonwealth currencies as Oil Sheiks look to park their money.
This should be positive Gold going into the weekend.
Equity Indices are rich at these levels.
Short term traders should focus on the Oil names and related sectors.
You only have to look at the price action in the Vix yesterday to see managers are again buying downside protection without selling their shares.
Opening Range Time Frame Trading again today.
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Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical's.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.