August 1, 2013 - MDT Euro & Position Update

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.

I'm back however my mind is still reeling from the loss of my Father, a man from the greatest generation. At 95 he wasone of many who volunteered in WW 2, did what was expected and asked nothing in return.

Thank you again for your warm thoughts and prayers.
It was most appreciated!

30 yr. Bonds... just elected the sell stops at last months low of 132.02.

This is the area to watch for all new price action. Remaining below this level?tgt's 129.05 and then the low 127's.

This should move in 2-3 point increments from here. The trailing stop for shorts?is 135.05. Sell any rally as close to this level as possible.

The short term point & figure charts show that sustained price action above 133.24 is needed for a short covering rally to materialize.

TBT...this is going to be driven by the futures. 83-84 is the next targeted area.
Today's low needs to hold on any break early tomorrow to avoid short covering.

Position update...

Euro...those that waited patiently for 133.40 to sell the Euro should cover 1/2?the trade on the close today and let the rest ride with a break-even stop.

We were stopped out of EWZ (Brazil) for over a 1% loss.

 

Line...(Linn Energy) call position is still live although I can't say that I'm very happy with the current chart pattern. We'll take a look tomorrow.

I'm not going to leave you hanging going into unemployment.

Tomorrow it will again be all about the Bonds and the precious metals.

 

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