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 IAT?????????????????????????????????? 34.13????????? 33 Close
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Today's Working Orders
SELL 2 USAZ @ ??136.28? ? GTC?
SELL 2 USAZ @ ?137.02? GTC
ETF Traders
TBT...57.95 -58.10 is the app buy zone
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Stocks...
DAX...10,000 is the key resistance and upside break out level. A couple of closes over this level is needed for another big leg up. Dax is putting in an ORH weekly formation.
Holding 9800 on? the next break keeps this on a path to much higher prices.
Bonds ...
30 yr. Bonds...(Z) we're scaling into a short Bond position @ 136.28-137.03
FX...
AUD/USD...89.16, last years close in the Aussie, is support and the downside closing pivot.
Euro...129.15-25 is resistance and the upside pivot.
GBP/USD...remain firm as long as there is no close below 162.30.
GBP/JPY...rallied big before the vote results were released and then gave it all back.
This instrument as well as the rest of the other Yen crosses need a directional break. They've all had big moves over the past two weeks and are in need of some consolidation.
Commodities...
General Comments or Valuable Insight
All eyes will be on BABA at the bell. This will be an opening range trade.
The opening range will be your pivot. Good above /negative below.
Time Frame Trading today.?
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.