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
No current holdings
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No Working Orders
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Stocks...
Spu's...1894 is resistance.
QQQ...the upside breakout is a close over 88.30. Yesterday's low is your risk to be long (86.50 Close).
PCLN...maintaining and closing over 1196 should see this rally to 1248.
UNH...United health care is another beaten up name that is bottoming.
If this name starts up today it's a good one to buy. It's corrected over 10%.
ALXN...gains upside momentum with a close over 161.20.
EXAS...is trying to bottom. This is a name that has to hold on the opening and start up to be good.
VMW...has been holding the 200 DMA. Price action and a close over 94.30 would signal a short term low.
AMZN...the worst looks over. As long as this maintains closes over 304 I'm friendly.
SCTY...a close over 55.80 would signal a trad able low.
FEYE...over 41.20, look for 44.
CRM...Salesforce after an almost 30% break and a trip back to it's 200 DMA, 54 becomes the new upside momentum #.
IYM...Basic Materials as a sector looks good.
XLK...the risk in this SPDR is yesterday's low.
NKE...looks to have bottomed. This is a Long against a 73 close with an initial tgt of 75-75.25.
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Bonds...
30 yr. Bonds...135.05-09 is support and downside momentum level
FX...
Euro...139.50-67 is resistance and the upside closing pivot.
NZD/USD...87.47 followed by 88.45 is resistance
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Commodities...
OIL... Recovery and a close over 100.50 (200 DMA) today's near term resistance, is needed for a rally.
Brent...109 is resistance and the upside closing pivot.
Gold...1300-01 is support and the downside pivot. Below it could roll back into the 1280's.
General Comments orValuable Insight
NASD 100...Is attempting to bottom against the other indices.
Look for the Nasd and Biotech names to pick up again.
The Individual names look better than the Indices.
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've sent out a?BRKA?chart. That little Pink line is 189,188.
As long as this level holds the market will be in rally mode.
Berkshire Hathaway
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.
