June 23, 2014 - MDT Pro Tips A.M.
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
Short Euro??????????????? 136.31????????? 136.85 GTC????? 133.70
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Today's Working Orders
BUY Euro @ 133.75 OCO 136.85 Stop GTC ( Good Until Canceled)
Sell 30 Yr. Sept Bond Futures "(USAU)(ZBU)" @ 136.09 GTC
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Stocks...
UNH...looks good on the weekly chart with an ORH week.
JPM...remains firm over 57 close
CELG...is a name that will be in play going into qtr end. A close over 175.17 is needed for an ORH qtr.
MELI...Mercadolibre is a miner that is looking good. This is worth a look around $88 for a hold if it matches up with a 15 dollar break and hold in the Gold Futures.
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Bonds...
30 Yr. Bonds (U)...136.09-11 is the sell level.
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FX...
Euro/AUD...the next set of resting sell stops are @ 143.60 which tgt's just shy of 143.
AUD/USD...needs a close over 94.63, the April high for another wiggle up.
Commodities...
Gold...initial support is 1300. Gold could break into the 200 DMA in the high 80's and still maintain a bid tone.
Soybeans...14.50 is next resistance.
General Comments orValuable Insight
The U.S. Equity Indices should have considerable trouble closing over last night's highs. Many short term traders will sell against that high to see what develops.
The Bonds should be interesting this week as we see mid-week how fund managers adjust their portfolio weightings going into qtr's end.
Given that the equity indices look rich and in need of a rest, I'd be focusing on the Bonds for more strength.
The Indices will be a stock rotation game. GOOGL has been holding the breaks last week. Since it's already worked off it's overbought RSI's, I'd look for names like this to be the beneficiary of the rotation.
Opening Range Time Frame Trading again today.
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical's.
United Health Care
Celgene
Mercadolibre
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.