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.
The Italian 10 yr. Bond…. FBTPU4, which signaled the low in rates yesterday for all the major Bond markets, put in an ORL day and looks vulnerable to another 100 point drop with sustained price action below 127.45.
Spu’s…put in a nice mid-week high. As long as there is no price recovery today or tomorrow over 1958 they’ll remain under pressure.
1933 is first support
NASD 100…3850 is weekly support. Look for a bounce around 3890.
VIX…15.80 is weekly resistance. match up a low in the Equity Indices with this level the first time in.
With everyone hitting the sell button in the equities, it’s pretty safe to say you’ve seen a short term low in the 30 Yr. for at least today.
Gold…1285 +- a couple of bucks is support.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.