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
Long TBT ? ? ? ? ???????????????? 72.57??????? 71.90?????????? 76.40
Long VIX 14/16 call spread ? 55
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Today's Working Orders...
Sell?the remaining Long TBT @ 76.45 GTC
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Stocks...
SSO...92.30 is support and the closing downside pivot.
Spu's...are presently stuck between 1750 and 1764.
Short term traders should trade this range until proven wrong.
Bonds...
30 yr. Futures....
Bund...141.46 is daily support and the short term downside pivot
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FX...
AUD/USD...needs a close over 95.50 for higher.
EUR/AUD...weekly sell stops are @ 141.25. Maintaining under this level will tgt 140.
GBP/USD....160.80 is resistance today
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Commodities...
Oil...needs above 95 to rally anywhere. Qtrly sell stops are @ 93.94.
General Comments orValuable Insight
Equity markets are still holding higher on the month. Until we see a close lower on the month across the major Indices, investors will keep buying breaks.
Time Frame Trading today just like yesterday.
Look at the usual suspects for individual names.
GOOG,NFLX,GS,OXY,PCLN, Natgas Infrastructure are all holding breaks and seem poised for higher regardless of the broader Equity Indices that seem stuck.
Pay attention to the early capital flows, the bigger game will be at the end of the week Thursday into Friday.
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.
