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...3740.50 is the year high. This is a natural place to look for price rejection, however convincingly closing above this level gives much higher price targets.
Nasd would need under 3685 to do any damage to the Bullish pattern. Spu's, the # is 1902.
DAX...has an initial tgt just shy of 11000.
GS...hit 200 DMA resistance @ 164.00. Closes over this level are needed for more upside. 160 is mvg avg support.
TSLA...is caught between 208 ( mvg avg support) & 220 resistance.
BAC...15.50 is 200 DMA resistance and the closing upside pivot.
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Bonds...
30 yr. Bonds ...sustained price action over 137.25 would lead to more upside on the Point & Figure chart.
We're still looking for an eventual 140.15 print.
FX...
GBP/USD...put in an ORL day. 167.50 ish holds or it can go to as low as 166.50 before it bounces.
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Commodities...
Gold...once closing under the final 1262 fib support measured from last August's low, look for this to trade lower in 20 dollar increments.
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General Comments orValuable Insight
Don't fight the flow. Whatever happens today into tomorrow, we're looking for Equity indices to be priced on their highs @ Friday's close.
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.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.