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 positions
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Today's Working Orders
No working orders
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Stocks...
Nasd 100...Point & Figure break out is above 3625. Sustaining above
leads to an upside breakout.
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Bonds...
30 yr. Bonds... 136.27 should be monitored for tone on the SPU/BOND spread.
FX...
EUR/JPY...138.06 is 200 DMA support and is over sold on the daily time frame.
Yen Futures have printed their 200 DMA @ 99.14. USD/JPY is under it's corresponding level and would need over 101.60 ( 98.40 Futures) to confirm a turn around.
Commodities...
OIL... July (N) over the next 2 days 103 will become an important pivot level.
Brent...support starts @ 109.05 into 108.70 (the closing downside pivot)
Gold...1305 now becomes the upside weekly pivot. This was an important rejection at this weekly level .
Coffee... (N) only weakens with price action and a close below 180
General Comments orValuable Insight
The Equity Indices are caught in a range per the longer term point & figure charts with the Russell being the weak link.
I was stopped out of the currency trades last night and still think the thesis was sound, however I am leaving them alone.
Welcome to the Mid-Week shuffle.
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.
SPU...S&P 500 Futures
Nasd 100
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.