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???????????? 92.40 Close
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 10 ?FB 85 4/02/15 Calls when FB prints 85?
SELL SOXX @ 99.05 OCO (one cancels the other) ?92.40
BUY? AUD/NZD @ 99.9?6?
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Stocks...
Spu's... 2054-57 (Unchanged on the year) will be the focus today into the close. This will be support. Resistance is into the low 80's
Nasd 100...4376-87 is mvg avg resistance/ 4336 is mvg avg support.?
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Bonds ...
Bund...158.10 is support and the downside pivot. A close over 159.30 is needed for higher.
FX...
EURO...106.86 is fib support
Commodities...
WTI...47.25 is the next fib bounce level.
GOLD...1191 was last night's P&F breakdown #. 1182-78 is the short term hold level.
General Comments or Valuable Insight
This being qtr. end the only thing that matters today are the closes.
Day traders...look for the Equity Indices, Currencies, Oil & Metals to be a Time Frame capital flow trade into the close.
Grain traders should be aware of today's USDA crop report.
I'll be compiling my 2nd qtr technical update over the next few days to be released before I check out for spring break and and a much needed mental respite.
I'm placing the order to BUY AUD/NZD again @ 100 (Long Aussie/Short Kiwi). We're getting close to parity going into qtr end which makes it a perfect time to get filled.
The last time I put in a currency order similar to this was a sell in the Aussie @ 111.10 in 2011. I did not get filled. The high was 110.86. The next day I considered renaming my firm "SUM DUMB Trading".
Being the diseased hamster I am, I'm sure I would've been out after the first 7-8% break, however I'm just trying to let you know that this is one of those levels that can turn into something big.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.