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
SSO Long ? ? ? ? ? ? ? ? ? ? ? ? 91.60 ? ? ?? 91.60 ? ? ? ? ?? 102
DXJ?Long ??????????????????????? 48.46??????? 47.50???????????? 53
TBT?Long ??????????????????????? 77.70??????? 75.75 ??????????? 82
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Today's Working Orders...
No working orders
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Stocks...
Euro Stoxx 50 (DEC)...3176 is qtrly resistance.
FXI...needs to sustain over 39.25 to start a new leg up.
TM,Ford & COP...are worth keeping an eye on for an early hold.
Time to start looking for names that have been in a consolidation phase.
TBT...75.20 is support and the downside pivot.
DXJ...is in need of price consolidation.
?
Bonds...
30 yr. Bonds...132.11-13 will dictate the next move. Good above, negative below.
Bund...141.31 is support and the downside pivot today. By holding this level we're looking for a test of the 200 day @ 142.56
FX...
EURO...134.70 is short term support. Maintaining above 135.25 will lead to higher prices.
AUD/JPY...94.00 will be pivotal today. By maintaining above, expect a test of the 200 day mvg avg @ 94.58.
Commodities...
Gold...macro sell stops are below 1261, which if elected will seek 1180.
Sustained price action above 1300 is needed for any upside to materialize.
Oil...94.10 is resistance and the upside pivot. Macro buy stops are above 95.25-40. I don't see a lot of downside from here however 91.80 ish is not out of the question.
General Comments orValuable Insight
Look at individual instruments.
Yen has been in a big sideways chop since July. Under 99.85 USD/JPY
(over 100.24 ) be wary of another move back under 99 USD/JPY, particularly if we see profit taking the U.S. Equity Indices .
Let the board play out. Pay attention to the opening ranges and time frames today.
USD/MXN & USD/BRL...the Mexican peso and the Brazilian Real are strong this A.M. This should translate into early strength in the EWW & EWZ
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. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30/13 ( September 30th) closes as your macro pivots. Trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.