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.
Total Premium collected - $1.95
ASNA Long at $14.20
Total Premium collected - $.75
ETE Long $14.05
Total Premium collected - $2.47
P Long $13.38
Total Premium collected - $1.36
DUST Long $4.50
Total Premium collected - $.70
FCX Long $12.45
Total Premium collected - $.24
CIEN Long Oct 21-$22 Call - $1.39
CIEN Short Sept 30th - $24.50 Call - ($.36)
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And conversely, the VIX dropped 16.46% to close at 13.30.
Based on this price move, a close today above 2,140.62 and the S & P 500 should retest the 2,187.50 level.
Does this mean there is smooth sailing up to that level?
No, I don't think so.? There is overhead resistance at 2,168 area.? If the S & P can break through that level, it should then act as support.
You should have rolled out the short $14 on P to next week.
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
With the VIX breaking under 14.06, that level should now be resistance.
Major support is at 12.50.? And if the VIX does break under 12.50, a move to 9.38 should be forthcoming.
That is the all time low for the VIX.
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
With an open above 2,140.62 yesterday, that level acted as support.? Yesterday's low was 2,139.57 or within a point of that level.
Support today should be at 2,156. And perhaps minor resistance at 2,172.90.
A close above 2,140.62 today confirms a move back up to 2,187.50.
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
The QQQ is within 43 cents of the 118.75 objective.? It should get hit today.
The NASD composite made an all time high yesterday, and the QQQ is just under its all time high.? I would expect the QQQ to follow the composite.
117.97 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 bounced, as expected with the Fed announcing no change in rates.
The low for the day was within 20 cents of the 134.38 level.
A close today above 135.16 and the TLT should move up to 137.50.
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
A close today above 125.78 and the GLD should test 128.13.
Minor support is at 126.56. Resistance should be at 127.34.? A break through 127.34 and expect the GLD to hit 128.13.
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
Like all markets, the XLE had a nice bounce and closed at 68.47.
The XLE will need two closes above 69.53 to move to 71.88.
67.97 should be minor support.? 70.31 should offer some resistance.
?
FXY:
Major level: 96.88
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 FXY blew through the 95.31 objective and close just above the 96.09 level.? It closed at 96.13.
Next level to the upside is 96.88.
96.28 could offer minor resistance.
Apple:
Major levels for Apple are 118.75, 115.63, 112.50, 106.25, 100, 93.75,? and 87.50.
Apple closed at 113.55, just above the 112.50 level.
Because of the strong move last week, Apple maybe pausing before it moves up again.
If you get long Apple, you may be early, but I don't think you will be wrong.
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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