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...the buy stops are over 1664 and the sell stops below 1630.
Bonds...
No change
FX...
No change
Commodities...
Oil...I wouldn't try to pick a high until later in the week. Still looking to sell 116.50's the first time up. This is a level I've had on my matrix since 2008.
Gold...can be traded from the short side, with a tight stop, against last nights high looking for the low 1350's.
Silver...shows a similar pattern, however this metal needs to sustain under 23.64 to gain downside momentum.
General Comments or Valuable Insight
With Wed. being a 9/11 anniversary and the drama happening in Washington with respect to Syria, I'd expect most markets to remain hostage to headlines.
The markets are completely headline driven at the moment by Syria. Will he or won't he?
Low risk opportunity can always be found in individual names.
The broader market could be range bound for a couple of days.
Short Term View...
Trade instruments off their own technicals.
Time Frame Trading.
For Glossary of terms and abbreviations click here.