July 2, 2015
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 Bill Davis, 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.
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Today's Working Orders
No working orders.
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The unemployment report came in and it showed that 280,000 jobs were added.? The unemployment rate is now 5.5%, adding further credence to a rate hike this year.
Market reaction is that the SPY is up .79 and the DIA is up 35, pre open.
Tomorrow the markets are closed and I expect today maybe rather tepid based on traders leaving early for a long weekend.
The markets have bounced the pats two days after the selling claims on Monday.
Enjoy the 4th!
Here are the key levels for the markets.
Stocks...
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VIX:? Key levels are 21.88, 18.75 and 15.63
Short term levels:? 16.41 and 14.85
Watch where the VIX opens this morning.
An open under 15.63 would indicate further upside on the markets.? An open above it puts the rally under pressure.
S & P 500 Cash Index: ?
Key levels are 2,093.80, 2,062.50 and 2,031.30
Short term levels are 2,070.32 and 2,078.15
A close above 2,070.32 would indicate the market should head back up to 2,093.80.
The S & P 500 is back above the extreme lower bollinger band.
Nasd 100 (QQQ):? .
The QQQ closed yesterday at 107.92, above the 107.03 level.? The objective should be to 109.38.
Key levels are 109.38 and 106.25.
Short term levels are 107.03 and 108.60
TLT:? Yesterday, the TLT dropped back to the 115.63 level, closing a penny under it at 115.62
Ley levels for the TLT are 118.75, 115.63 and 112.50
Short term levels are 116.41 and 114.85
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GLD: Key levels are 114.06, 112.50, and 110.94
The GLD closed under 112.50 yesterday at 111.98.
A close under 112.11 and the GLD should continue to drop to 110.94.
XLE: Key levels are 75 and 71.88
The XLE closed below above the 75 level yesterday, at 74.20.
A close today under 74.22 and the XLE should continue to drop to 71.88.
Watch list:
Bullish Stocks: DPZ, UHS, NKE, FB, FL, SHOO, DE, LLY, HLF
Bearish Stocks: PCLN, CMI, DDS, MON, CVX, WDC, SNDK, GMCR, SNDK and QCOM
