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 GDXJ???????????????????????????????? 39.80??????????????? 37.70????????????? 41.80
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
Sell OIL @ 100.20?
Sell 30 yr. Bond Futures @ 133.16
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Stocks...
Spu's...(M) 1874-5 will act as resistance and the upside pivot
Nasd (M)...3700 +- a couple will be resistance and the upside pivot.
APM4...ASX 200 Futures need new closing strength as well as sustain over 5360 to start another rally.
Nikkei...14,695 is mvg avg resistance. This needs a close over 15,500 for a confirmed rally.
DAX...9300 will be pivotal. Closes over 9400 are needed for a sustainable rally.
EWG...31 is still resistance and the upside closing pivot.
UNH...lock in some money on the next wiggle up. Strength into today's close should be used as a partial exit of longs. Pay for your trades.
GDXJ...faded at the end of the day. A close over 41.15 is needed for this to bottom out and start higher.
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Bonds...
30 yr. Bond (M)....can rally as high as 133.25 and fail.
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FX...
AUD/USD...is in the middle of a 150 point range. 90.00-91.50.
USD/JPY...101.90 is short term resistance (app 98.14-20 Futures)
Commodities...
OIL...I'm looking to sell the next rally. I'd like to sell it just over 100 @ the 200 day mvg avg.
Current point & Figure pattern shows short term buy stops over 99.25 for the (K).
Again, it's a matter of how high Oil can rally + weekend geo political uncertainty might make this a better ( Lower Risk) Futures trade Sunday night.
Soybeans...need to stay above 14.50 next week to break out on a weekly chart for more upside.
14.10 is near term support and the downside pivot for another 20 cents.
13.67 is the lowest risk buy zone, back at the 200 day mvg avg.
General Comments orValuable Insight
RasPutin's world....
The later in the day it gets the less you'd want to be shorting commodities with the possibility of RasPutin roiling the world over the weekend.
I would expect a lot of back and forth over the next week. Pick your spots and your instruments carefully and above all take your money when they show it to you.
Expect at least one wiggle up in the Equity Indices. Pay attention to your time frames for confirming follow through.
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 Neutral Equities.
We've included our medium term view from the beginning of the year so you can get a sense of what's happened and where the markets are now.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.