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 GS 25%?? ? ? ? ?????????? 158.10 ???? 154 Close
Long IBM 25% ????????????????? 174.50 ???? 169 Close
This is a 25% position.
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Today's Working Orders...
Buy?TLT?@ 105.40 with a 104.40 Sell Stop On Close GTC?"Good Till Canceled"
Buy?30 yr. Dec Bond Futures @?132.18 with a 132.00 Sell Stop On Close GTC.
Buy FXA @ 95.35
Buy AUD/USD @ 95.35
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Stocks...
AAPL...529 is the key resistance and the upside closing pivot.
NFLX...closing over 331 projects another 20 dollars higher. NFLX is attempting an ORH month as long as it holds 320 on breaks.
Nasd 100...is trading @ the 2/3rds of all time. 3320 is the Fib, however the last swing count projects to as high as 3370. Above this level there is nothing for another 200 points.
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Bonds...
30 Yr. Bonds...134.27-135.02 is weekly resistance. The 1st Tgt on this rally is 137 +- a few.
TLT...108.00 seems to line up with the Futures for weekly resistance., maintaining above tgt's 110.
I know a few of you went with the ORH pattern and got long. This is a good spot to pay for your trade and let the rest ride.
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FX...
Euro,AUD/USD & GBP/USD have all reached my tgt's. Closing above these levels for 2 days will lead to further Dollar weakness.
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Commodities...
General Comments orValuable Insight
Markets and individual names are getting rich again.
I explained late yesterday why I was getting cautious. This is a big area in the Nasd 100. Price action at this area will tell us how the market will move.
That gives you 2 scenarios; back and fill to the last breakout of 3240 or much higher prices.
Trade on your own terms. Chasing rallies is tough.
Buy breaks.
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Short Term View...
Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.