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?
LONG SOXX ????????????????????????? ? ?? 91.50???????????? 88.80
LONG?FB??85 4/02/15 Calls???????????? .49
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Today's Working Orders
SELL 15 VGK ?56 4/17/15 Calls?@ 65
SELL?15 ?FB 85 4/02/15 Calls when FB prints 85?
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Stocks...
Spu's...2047 will be pivotal today.
IWM...120.83 is the 50 mvg avg. 119.40 is the low risk buy level.
Bonds ...
Bund...158.10 is the low of the weekly range. This is support and the downside pivot.
FX...
EURO...put in another topping pattern yesterday (ORL) day. 108.21 is unchanged on the week. Euro weakens further under under 108.00.
DXE...put in an ORH day yesterday led by Euro weakness and has pattern follow through today. Staying above 97.58 keeps pattern integrity for a higher dollar.
Pounds...have been the whipping boy on the crosses. Sterling needs closes under 148.00 to break down again.
Commodities...
WTI...50.25 is P&F Support. 5186 is resistance. New sustained price action is needed out of this area for new direction.
General Comments or Valuable Insight
Let the day play out. The markets have to get through this news cycle with the Mideast before things settle out.
Yellen speaks very late in the day today.
I like yesterday's low in the NASDAQ 100 and would focus on names within that index for opportunity.
I would need to see the Indices hold in here and close higher on the day today to confirm bottoming action and not just great technical levels for a big bounce.
The world is still buying Europe & Japan on breaks and selling the U.S.
Nikkei under 19,000 would signal a broader pullback.
I bought some upside in Facebook since I don't see how a conflict in the Mideast really effects what they do.?
Just a general note...
Don't chase entry by more than a tick or two in the options. Yesterday was a good example of the market coming back to you to get entry.
If the market runs...leave it alone.
Do not decide the next day to get into a trade from the day before without sending?me a note @ themaddaytrader@gmail.com for confirmation.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
