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 or working orders
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Stocks..
Spu's...1680.50 is near resistance. 1665 is support.
Nasd 100... 3200 should be sticky the first time up. This is just not a level to buy strength.
Bonds...
Bunds...are very oversold.
30 yr...tgt's and resistance remain the same.
Italian 10 yr...is oversold and trying to bottom
FX...
Aussie...93.20 is short term closing resistance. By closing over 92.55 this week we're looking for a run towards 96.70.
AUD/JPY...93.00-93.25 is resistance and the closing upside pivot.
EUR/JPY...132.77 is short term resistance with buy stops above.
USD/JPY...100.23 is dollar resistance/Yen support (99.80 futures) with stops below. Sustaining above this level in dollar yen will be a momentum builder.
EUR/AUD...142.20 would be the daily downside extreme. Closing below this level would lead to another 5 figures.
CAD/JPY...96.90-97.00 is resistance and the upside closing pivot.
Commodities...
Brent...112.55 is weekly support. 113.05 is the downside closing pivot.
WTI...107.23 is support and the weekly downside pivot.
General Comments or Valuable Insight
Trade your time frames today and pay particular attention
to the New York opening since this has when been when daily direction has been setting up.
Long Canada/ Short Yen looks to be the lowest risk way to play a risk on board via the currencies. I want to see how it acts up here before I step in.
Short Term View...
Equities are in a buy the big breaks mode, just as the precious metals are in sell the big rally mode when the board goes risk on.
Trade instruments off their own technical's Time Frame Trading.
For Glossary of terms and abbreviations click here.
