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...need to sustain over 1788 to get the bears to stop selling rallies
Both the Nasd & Spu's are still holding.
Nikkei...is the Bourse that everyone has in their sights.
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Bonds...
30 yr. Bonds...sell 1 point rallies
FX...
AUD/USD...just ran the weekly ORL sell stops @ 92.69. This level bears watching for the next move in the Aussie.
USD/JPY...remained steady yesterday as the world sold all currencies against it on the crosses. Last night as soon as the U.S. closed it was the Yen's turn to weaken.
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Commodities...
Crude...January (F) is now front month. The levels we've been writing remain the same. Holding above 94 is short term positive. Closing below 93.30 leads to more downside.
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General Comments orValuable Insight
Time Frame Trading...Yesterday U.S. close into early Asia was a great example.
The Yen sat all day being bought on all crosses.
It didn't get crushed with the Euro, Aussie & Kiwi during the U.S. session.
Once the U.S. equities closed traders started selling the Yen simply as a value proposition. It was the one that was down the least.
I had a Long DXJ prepared since Yesterday at 10:A.M. CDT to buy.
I passed hoping to get a lower opening today in the U.S. to buy it.
It's a 24 hour world. We'll look to get this back on. It has much higher tgt's.
Pay attention to the early action today.
Traders will be deciding whether they'll leave the U.S. names alone for a few days or use the weakness to buy into next Wednesday.
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.
