September 24, 2013

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.

Current Positions

No Positions?

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Today's Working Orders...

Sell the 30 yr. Bonds @ 132.28 GTC "Good Till Canceled"

We're looking at this as a reaction trade off the area the first time up.?

We'll be trading this very tight, looking to take 1/2 the trade off for a? 20-25 tick profit.

Yesterday's currency day trade orders were DAY SESSION only and are canceled

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Stocks...

GDX...Look to have more room on the downside than the GDXJ.

GOOG... 875-77 should bounce the first time down on a short term chart.

GS...163.50 should bounce the first time down.

JPM...needs to hold above 50.25 close to avoid a much deeper correction.

NFLX...put in an ORL day. A close below 297.40 would signal the start of a good correction.

XLV...support is 50.50-70

VIX...15.16 is resistance and the closing upside pivot.

Bonds...
FX...

EUR/AUD...This looks to continue to struggle @ 144. This is a low risk level to short the cross. A close below 141.90 is needed for a break out to the downside.

EUR/JPY & AUD/JPY look ripe for more downside

Commodities...

Oil... Look for a test of 102.35. 101.30 should provide a bounce the first time down. 104.70 will remain resistance and the upside pivot.

Gold...is caught between 1315 and 1352 on the point & figure.

General Comments or Valuable Insight

Pay attention to the opening range trades and your early time frames.

The 30 yr. Bonds could go as high as 133.12-15 and reject. A close over this level will lead to the start of a big swing up. Price action at this level will be key to the next 2 point move in the Bonds.

We are trading this level with a very tight stop, particularly in light of an Equity board we see in need of a good correction.

Short Term View...

We have an interim top in place in the Equity Indices. Single instrument should be evaluated on their own merit. Trade only at the big levels.

Yesterday's working day trade levels in both the Aussie and the Pounds have to hold on a closing basis for these not to have a further negative effect in the Yen crosses from here.

For Glossary of terms and abbreviations click here.

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