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 AAPL???????????????? 467????????? 460.50 ? ? ? ? 481/520
Short Yen????????????????? 100.58????? 101.05? ? ? 96.40/93.00
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Stocks...
IYT...115.67 should bounce. Closing below 144.84 would put the board back on negative footing.
VIX...13.73 is support, yesterday's low, and it's also the downside pivot. I was hoping to be able to buy this @ 13.09 before the Fed meeting for a pop.
Bonds...
30 yr...are still in this daily 1 point daily range trading affair. The pattern looks sideways. Next week is more important and we'll take another look then.
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FX...
AUD/USD...is still holding the breaks into the 92.08 area we identified yesterday,?however it remains below 92.85. This might have to wait until Monday Morning to?initiate new direction.
Commodities...
Gold...is getting oversold. I do not expect to see anymore downside into this 1300 level. It's not worth the risk to be short anymore.
Brent...rallies to 111.60-80 can be sold with a 25 cent stop. This will become resistance and the upside closing pivot.
General Comments or?Valuable Insight
Less is more today. Many investors will be heading out the door early for Yom Kippur.?L'Shana Tova to all our friends. May you have an happy and easy fast.
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Short Term View...
Trade instruments off their own technical's
Time Frame Trading.
For Glossary of terms and abbreviations click here.