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…are caught between 1627 and 1638.
Nasd 100…needs to sustain over 3085 for higher.
Bonds…
FX…
Euro…is into short term support at 132.40-20.
EUR/AUD…a close under 148.22 is needed for help with more Euro weakness
Commodities…
Gold…so far held 1404. Closing under this area will signal a short term high in the gold.
Silver…23.75-80 for resistance and is now interim support.
Oil…110 is resistance and the short term upside pivot. 108.70 is
support and the downside pivot.
Soybeans…13.60 is support and the downside pivot in the Nov. beans. Once below look for an initial 20 cents down.
General Comments or Valuable Insight
It’s another night with the best trades being the opening range trades in early Asia. Directional trading remains to be best during this time frame.
The U.S. session remains dominated by HFC ( High Frequency Trading) front running the public. These machines see the order book, something the public does not have access to, and front run every order distorting market pricing.
Short Term View…
Trade instruments off their own technical s
Time Frame Trading.
For Glossary of terms and abbreviations click here.