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.
Sell the AUD/USD @ 94.20. (93.72 Dec. Futures).
We’ll be using a 25 point stop.
We’re looking for an initial 60-70 point break off the level.
That would likely see EUR/AUD testing the 142.15 area.
This is where the Aussie will either hold or fail.
Short term traders should pay for the trade on the first break off the area. This is a short term contra trend scalp.
The whole board looks to roll over from here. (Risk Off)
Again we have written Sept. Futures for the S&P index.
We are stopped out of AAPL @ 460.50.
We have no position.
Last week we spoke about buying the Vix around 13.09.
We still think that’s a good idea for anyone with a long portfolio going into mid week.
For Glossary of terms and abbreviations click here.