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 Positions?
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Today's Working Orders...
No working orders?
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Stocks..
EWG...needs to maintain and close above 28.03 by the end of the week for higher.
EWP...closing and maintaining over 35.50 is the upside breakout for Spain. As long as this ETF holds 34.75 things are looking up.
EWZ...47.95 is your qtrly pivot. A weekly close above 49.22 is price positive.
FXI...37.05 is the closing pivot.
GS...is in need of a close over 161 to avoid lower retests.
AAPL...tested our support zone of 474-8 and is holding nicely. Only a close below this level is negative.
F... held support yesterday. A close below 16.60 is negative. The upside breakout is a close over 17.35
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XLV...needs new closing strength over 51.25 for higher.
XLU...utilities are trying to bottom. A Friday close over 37.45 is needed for proof.
XLK...needs to maintain over 32.40 for a run into the mid 30's.
CHK...26.70 is resistance and the closing upside pivot. Above look for 30, below look for 25 again.
SMH...by maintaining a close over 39.85, this tgt's 42.
MOS...put in an ORH day. By holding above 43.40 close this looks to have a bottoming formation.
MON...put in an ORH day. Consider a close over 105.60 a breakout to the upside. Look for a 5% move.
DD...should maintain above 58.48 if it's good. A close below 58.20 and the rally has to wait.
LULU... 73.75 is the weekly ORH #. I need those cool $80 dollar shorts you can pick up in Beijing for $15. This keeps a positive footing above 71 close.
Bonds...
TBT...closing below 75 is short term negative.
FX...
Commodities...
OIL...103.75 is resistance. There are resting sell stop under 101.
This will move on the EIA 9:30 CDT inventory #'s today.
General Comments or Valuable Insight
Monsanto and Mosaic are the most interesting chart patterns given the sell off in the Grains.
Today couldn't be more straightforward
Bulls.... the Spu's have to hold right in here. Futures either hold or they don't after the 7:15 CDT ADP report.
Spu's either hold unchanged on the qtr of they don't.They could spike as low as 1670 with an immediate rebound and put in a trad-able low. If not look for the mid 1650's.
Given the day of the week I'd rather buy them before I sold them early.
Short Term View...
We're in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use Monday's closes as your pivots to trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.