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 BAC 14 March 18 Call???????????????????????????????? .11
Long CAT 14 March 100 Call? ? ? ? ? ? ? ? ? ? ? ? ? ? ??? .20
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working orders.
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Stocks...?
GOOG...1220 is the closing upside pivot. A breakout to the upside is needed to confirm another leg up in the Indices into month end.
Spu's..1859 is the lowest risk buy level.
Nasd 100.. sustained price action under Friday's low of 3685 should lead to further profit taking. A close over 3722 is needed for another wiggle up.
Bonds...
30 yr. Bonds (H)...133.06 is the 200 day and 1st resistance. 132.09 is the 50 day mvg avg and 1st? support
Bunds...142.65 is mvg avg resistance. Closing over this level leaves way for a potential 100 point rally.
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FX...
GBP/JPY...171.21 is support that has to hold.
AUD/USD...could probe as low as 90.03 and hold. 91.70 is resistance (the 200 day mvg avg.)
USD/JPY...needs close over 103.50 to see further Yen weakness (96.60 Futures)
AUD/JPY...92.85 is 1st support, which held. The upside closing pivot is no2 93.70
EURO...139.50 ish is the swing count tgt. 140.15 is possible.
Commodities...
OIL...we got the test of the 200 day mvg avg @ 100.12. 102.70 is resistance and the upside closing pivot.
Oil seems caught between 100.74 & 103
Gold...needs under 1327 to do any downside damage. 1360 is near term resistance. 1373 is possible.
General Comments orValuable Insight
Pretty much everything is stuck in tight technical bands with heavy stock rotation.
Trading against the computers intra day is not a good trading strategy.
The action has been in Hogs & Coffee, neither of which I'm trading at these levels.
Day traders...let the market unfold. Less is more this week.
The markets will start heating up next week into qtr's end.
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.
We are positive Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.