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 VGK ?56 4/17/15 Calls???? ???? ? ?? .50?
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Today's Working Orders
No working orders.
Stocks...
DAX ...remains firm over 11,900.
Nikkei...June needs price action under 19,500 to show any signs of profit taking going into the end of the qtr.
BPT...breaks out over 56.65
Bonds ...
Bonds...163.15 will act as the short term pivot
Bunds...159.10 is the short term pivot.All new closing strength is needed for higher.
FX...
EURO... 109.75-110.00 is near term resistance. Sustained price action above, look for a run to 111.
DXEM...97.65 is today's resistance. Watch the Euro @ 110. Above the Dollar index is headed to the 50 DMA @ 96.
GBP/JPY...is breaking down through it's 200 DMA support.
Commodities...
OIL...as long as this stays over 46.90 it should try just over 49.
Gold...is holding breaks. Look for a test of 1200.
General Comments or Valuable Insight
The commodity markets are reacting to a weakening dollar. (going bid when the dollar weakens). Just be aware of the current correlation.
The Equity Indices will be a back and forth affair into the end of the week.
Yen...we're going into the end of the qtr which is Japan's year end. USD/JPY needs under 118.60 to trigger a bigger repatriation move. (Over 84.30 Futures)
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.