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
No open positions.
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Today's Working Orders
BUY AUD/NZD @ 99.95?
Stocks...
Biotech...
PFE...put in an ORH day. I like the pattern. If this starts up today it's a low risk buy for those of you who'd like a tamer healthcare name.
ILMN,MRK & SYK...put these in the opening range trading category if they start up.
Bonds ...
Bunds...(M) sustained price action and a close over 159.40 is needed for more upside.
30 yr. Bond...closed over it's 50 DMA. By holding a retest of 163.00, 165.00 is the next major fib resistance.
TLT...shows the same look. An initial hold can lead to higher prices.
FX...
EURO...110 is resistance and the low risk sell zone. The Bots took it there and back in 10 minutes at yesterday's NYSE close.
106.40 is first support. Closes below 105.40 is needed for more weakness.
Commodities...
OIL... Brent & WTI have different patterns.
Long Brent/Short WTI is the spread to watch for your technical s.
Most of the Oil names like SLB & NOV went from support to resistance mirroring the Euro.
Gold...while it had a 35 dollar rally it has yet to turn up on the long term point & figure.
General Comments or Valuable Insight
The Bots completely swept the order books going into new York's close.
Despite the ORH days in the Spu & Nasd 100 I'm going to be patient with the Equity Indices to see how they hold the next break (retest of the pattern).
The Bots have had their way with everything. I want to give the board a little time to see which patterns are real.
Many investors took their short Oil & Euro bets off early yesterday, with some reversing their positions. Give it a little time today to see what's real.
TLT
EUR/USD??? Euro
PFIZER
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
