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.
Nasd 100...gains upside momentum over 3593 close.
DAX...put in a ORL day Friday and is following through to the downside. 9426 is mvg avg support.
This is just one more tired Index that keeps failing at 9615, last years close.
VIX...last week we were looking for 12.60 as the level to match up with a high in the Equity Indices. "We got close".
Portfolio managers should continue to use the Vix as a hedging tool for cheap insurance when levels are reached.
EWZ...Brazil put in an ORH week. 47.80 is support. Closes over 48.80 are needed for upside momentum.
Closes below 47.40-50 would negate the pattern.
BHP...needs price action over 70.30 and a close over 70.75 to gain upside momentum.
GDXJ...has to hold above 36.30 to not roll over for more sideways action. Price action above 37.50 is needed for a rally to the 200 DMA @ 38.50.
GDX...looks better than the Juniors. I would still be surprised to see much over 24.75-25.00
WYNN, LVS & MGM...all put in ORH weeks. Wynn needs to get something going over 223 to continue higher.
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Bonds...
30 yr. Bonds...put in an ORH day right into the macro buy stops level we've been looking to see get elected for the past 4 months.
140.15 is the tgt level for this swing. 135.05 is retest support.
10 Yr. Bonds... TYAM closing over 125.03 gains upside momentum.
The monthly chart breaks out to the upside on closes over 125.12.
Bunds...closed on their upside pivot. Maintaining above 144.65 should lead to another 100 points up.
Gilts... need sustained price action over 110.78 for another 100 + points up.
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FX...
Euro...139.50 is resistance.
USD/JPY...101 is the 200 DMA (app 99.21 Futures) this should provide a low risk shorting opportunity the first time in.
This is another one of these we've been looking to print for the past few months.
AUD/USD...needs to get something going over 93.30 for upside.
Resting Point & Figure sell stops are at 92.25 with 91.50-80 being mvg avg support and a low risk buy zone the first time down.
AUD/JPY...is attempting an ORL day with a close below 94.57.
This cross is getting, short-term, oversold with 94.11 mvg avg support.
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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.
Natgas...this rolls over with sustained price action under 4.66.
Lower retests could get as low as 4.53.
4.88-90 is resistance and the upside closing pivot.
Friday's Unemployment Comments
Gold...1300 is the pivot in Gold. The ultimate screw job in Gold would be a spike into 1312-16 on the #. This is a low risk sell zone.
A close under 1265 is negative.
Gold... put in an ORH day Friday with a close over 1293. Gold either holds right here @ 1300 and runs into the mid to upper teens we were looking for Friday, ( This level is an exit for Longs and a low risk sell zone) or we'll see a retest of 1285-87.
Silver...needs to maintain over 19.65 for upside momentum to develop. That could lead to another 50-80 cents to the upside.
GOLD/USDJPY...we enclosed a Long Gold/ Short Yen Chart.
metals traders should be aware of it.m It shows there is some more room for the Gold to gain against the Yen before it runs into Mvg avg resistance.
General Comments orValuable Insight
The Nasd led this correction with the rest of the world indices treading water.
Equity traders will need to keep their focus on individual names for opportunity.
The calendar does not favor those that indiscriminately buy and hold.
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.
Long Gold/Short Yen
Gold
