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.
ASNA Long at $14.20
Total Premium collected - $.75
ETE Long $14.05
Total Premium collected - $2.47
P Long $13.38
Total premiums collected - $1.20
Short Sept 23rd-$14 call - $.50
DUST Long $4.50
Total premiums collected - $.70
FCX Long $12.45
Premium collected - $.24
CIEN Long Oct 21-$22 Call - $1.39
..........................................................................................
Both the NASD Composite and the QQQ closed to the upside over 2%, with the QQQ closing 2.89% to the upside.
The NASD and the QQQ were no doubt helped by the 11.43% move on Apple last week.
As for the S & P 500, it reversed and closed up 11.35 points.
After the multiple selling climaxes, the S & P 500 bounced off the 2,125 support level.
Friday ended with an inside day and a bearish close.
Pre open, the markets appear set to open to the upside. A violation of Friday's high of 2,146.48 would indicate further upside movement.
This Wednesday at 2:00 PM is the FOMC statement on interest rates. The Fed is intimating they will raise rates. Expect a volatile move if they do.
On a final note, the calls on ETE expired Friday.
2,139 should be a support level based on last week's weekly price bar.? Also, expect 2,141 to be a key level.
Continue to follow the levels.
Here are the key levels for the markets.
VIX:
Major level - 21.88
Minor level - 21.10
Minor level - 19.53 *
Major level - 18.75 *
Minor level - 17.96 *
Minor level - 16.41
Major level - 15.63
Minor level - 14.85
Minor level - 13.28
Major level - 12.50
The VIX hit a high last week of 20.51 before moving lower to close at 15.37.
Look for major support at 12.50.? For the VIX to test 12.50, it will need two closes under 14.85.
14.06 should also offer minor support.
S & P 500 Cash Index:?
Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12
Major level - 2,187.50 **
Minor level - 2,171.88
Minor level - 2,140.62 **
Major level - 2,125.00 *
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50
The S & P could not manage to close above 2,140.62 on Friday, after closing above it on Thursday.? It closed just under it, at 2,139.16.
The S & P still needs two closes above 2,140.62 to move up to 2,187.50.
2,125 should still be major support.
2,165 to 2,170 area should offer resistance.? 2,132 should offer minor support.
Nasd 100 (QQQ):?
Major level - 121.88
Minor level - 120.31
Minor level - 119.53
Major level - 118.75 *
Minor level - 117.97 *
Minor level - 116.41 *
Major level - 115.63
Minor level - 114.84
Minor level - 113.28
Major level - 112.50
Objective should still be to 118.75.
115.63 should offer support at this point.
The QQQ continues to be the stronger market. 116.41 should be minor support.
TLT:?
Major level - 140.63
Minor level - 139.85
Minor level - 138.28
Major level - 137.50 *
Minor level - 136.72
Minor level - 135.16 *
Major level - 134.38 *
Minor level - 133.60
Minor level - 132.03
Major level - 131.25
The TLT did bounce up to over 134 on Friday, as expected.
To test 137.50, the TLT will need two closes above 135.16.?
134.16 should offer support.
GLD:
Major level - 131.25
Minor level - 130.46
Minor level - 128.91
Major level - 128.13
Minor level - 127.35 *
Minor level - 125.78 *
Major level - 125.00 *
Minor level - 124.22
The GLD is sitting right on the 125 level.
To move lower, the GLD would need two closes under 124.22.
A break under 125 and expect lower lows for the GLD.? And two closes above 125.78 and expect the GLD to move up to 128.
XLE:
Major level - 75.00
Minor level - 74.22
Minor level - 72.66
Major level - 71.88
Minor level - 71.10
Minor level - 69.53 *
Major level - 68.75 *
Minor level - 67.96 *
Minor level - 66.41
Major level - 65.63
The XLE close under 67.96 on Friday.?
It would still need two closes under 67.96 to move down to 65.63.
If the XLE can get back above 68.75, I would expect a retest of 72.
FXY:
Major level: 96.09
Major level: 95.31
Major level: 94.53
Major level: 93.75 **
Major level: 92.97
Major level: 92.19
The objective should be to 95.31.
93.75 should offer minor resistance. Minor support at 94.34.
Apple:
Major levels for Apple are 118.75, 115.63, 112.50, 106.25, 100, 93.75,? and 87.50.
Apple is sitting right at the 115.63 level.
A great buy point would be around 109.
Watch list:
Bullish Stocks: AMZN, NTES, FB, CME, BABA, WDAY, BURL, BLUE, R, LVS, PAG, STI, INTC, MGM
Bearish Stocks:? AAP, BA, ANTM, DIS, HAR, SIG, TPX, GRA, ESRX, CTSH, ACHC, WFC, MLNX
?
Be sure
to check earnings release dates.
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