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...
Spu's...2110-12 has to hold to avoid profit taking.
DAX...11,860 is resistance and the upside pivot. 11,500 is support, below there is room for a deeper correction.
SHCOMP...broke to test it's 21 DMA before recovery last night @ 4466. This will be a key closing level to maintain a bullish tone.
CBI...this is a buy against 52.55. it's had a nice retrace. This is an opening range candidate for a buy today.
Bonds ...
FX...
EURO...109.95 will act as resistance and the upside pivot.
SFAM...106.67 is the corresponding level. (93.84 USD/CHF)
EUR/JPY... 135.70 + a few is resistance. 137.17 is the 200 DMA.
AUD/USD...76.25-40 is support. Closing below this level would be needed for a new leg down.
GBP/USD...151.55 is support and the weekly momentum level for more downside.
GBP/JPY...188.35 is first support. Below there is room for more profit taking.
EUR/AUD...143.55 is 200 DMA resistance. I would not be looking for follow through.
Commodities...
OIL...57.00-57.25 is the support zone and the Closing downside pivot.
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General Comments or Valuable Insight
Today will be all about the early economic data @ 7:30 CDT.
Indices either hold the first break or they don't.
By holding early the names that have been leading should remain bid going into month end markings.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.