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?????????? 74.60/76.40
Long VIX 14/16 call spread ? 55
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Today's Working Orders...
Sell?1/2 Long TBT @ 74.40 GTC
Sell?30 yr. (DEC) Futures @ 138.29
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Stocks...
?
Bonds...
30 yr....still needs to sustain under 134.26.27 for a point lower. The major qrtrly support and closing downside pivot is 133.12-17.
135.27 is resistance and the upside closing pivot. Above here the Bonds move a point at a time.
FX...
Commodities...
Gold...1338-42 is a key hold level.
Silver...sustaining over 22.90 should lead to a test of 24.
General Comments or?Valuable Insight
Follow the Bonds today. If the 30 yr. Futures sustain above 136 after the Fed Minutes, the dollar will get hit and the precious metals will rally.
The big game is at 1 CDT, a game which will be leaked "as usual" to the High Frequency guys before the rest of us have a chance to digest it.
This is not a day to hang it out there. Less is more.
Don't try to make your year in one trading day.
Note...I have placed a far away, way off the market, dream order in the 30 yr. Futures. It's like the lotto, if you don't buy the ticket you can't win.
Short Term View...
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 closes as your macro pivots. Trade the opening ranges and early time frames.
For Glossary of terms and abbreviations click here.