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...
SOXX...94.20-50 is resistance and the closing upside pivot for more strength.
Spu's... 2054-57 (Unchanged on the year) will be the focus today into tomorrow's close. This will be support.
Nasd 100...4376-87 is mvg avg resistance/ 4332 is mvg avg support.? I need closes over 4430 to generate new upside targets.
FB...needs to hold higher on the week or the Calls will evaporate.
Bonds ...
Bund...158.10 is support and the downside pivot. A close over 159.30 is needed for higher.
FX...
EURO...needs under 108 support or over 110.10 resistance for a breakout.
GBP/USD...needs under 148 support or over 150 resistance for a breakout.
AUD/USD...is trading into support on the P&F. This is a high risk area to initiate new shorts the first time in. It can start a new leg lower with a close under 76.40 under
Commodities...
WTI...47.25 is the 50% retrace for the past 2 week.
GOLD...1191 was last night's P&F breakdown #. 1182-78 is the short term hold level.
General Comments or Valuable Insight
CFTC? Commitment of trader reports show Dollar longs at a record 6 week high. (mostly Euro shorts).
Dollar up... is the path of least resistance with traders looking to press that direction into qtr end markings.
It's a short week with Qtr end tomorrow & Iran nuclear talks which can have a big effect on Oil.
Unemployment is released Thursday before the long holiday weekend.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.