November 11, 2015 - 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 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.
Current Positions
GOGO Long at $19.93
Premium collected - $1.25
NCR Long Jan 16 $27 Call
Net Debit - $.80
X Long at $14
Premium collected - $.89
ASNA Long at $14.20
Total Premium collected - $.75
Short Nov $14 Call - $.45 collected
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Before I begin I would like to thank all the Veterans and active members of our armed services.? Your service is greatly appreciated.
At noon today will be our bi-monthly webinar.? I hope to see you later today.
I said yesterday to watch how the S & P reacts around the 2,085 level.? After the open, the S & P dropped to a low of 2,069.91, which was just under our 2,070.33 minor support level.
The rally peaked at 2,083.67 or a few points under the 2,085.98 level I mentioned yesterday.
The upmove coincided with the VIX selling off.
I did mention that if the S & P closed under 2,085.98, which is did, that the objective should be to 2,062.50.
However, there is a minor support level at 2,078.10 and the S & P did close above that level.
Pre market, the S & P is up about 6 points.
Look for 2,085 and 2,078 to act as support.
Watch the VIX to move down for the markets to head higher.? A move up on the VIX and the markets should pullback.
Here are the key levels for the markets.
?
VIX:?
Major level - 25.00
Minor level - 23.44
Minor level - 20.31
Major level - 18.75
Minor level - 17.19 *
Minor level - 14.06
Major level - 12.50
Resistance still remains at 17.19.
I would expect a retest of the 17 area at some point.
S & P 500 Cash Index:?
Major level - 2,125.00
Minor level - 2,117.17
Minor level - 2,101.62
Major level - 2,093.80
Minor level - 2,085.98 *
Minor level - 2,070.33 *
Major level - 2,062.50
Minor level - 2,054.68
Minor level - 2,039.12
Major level - 2,031.30
A gap higher this morning should mean that 2,085 and 2,078 area should be support.
Short term timeframes still remain in uptrends.
Nasd 100 (QQQ):?
Minor level - 116.41
Major level - 115.63
Minor level - 114.85
Minor level - 113.28 *
Major level - 112.50
Minor level - 111.72 *
Minor level - 110.16
Major level - 109.38
The QQQ closed at 113.70 yesterday.? A close today above 113.28 and the objective should be to 115.63.
Yesterday's low was 13 cents above the 112.50 level I mentioned that should act as support.
Lower levels should act as support.
TLT:?
Major level - 125
Minor level - 124.22
Minor level - 122.66
Major level - 121.88
Minor level - 121.09
Minor level - 119.53
Major level - 118.75
Minor level - 117.97
Minor level - 116.40
Major level - 115.62
This is the second close under 118.75 for the TLT.
Look for it to drop to 115 level.
The next major level to the downside is 117.97.
Two closes under 117.97 and is will move lower.
GLD:
Major level - 112.50
Minor level - 111.72
Minor level - 110.16
Major level - 109.38
Minor level - 108.60
Minor level - 107.03
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
Minor level - 102.34
The GLD closed at 104.18. If it closes above
103.91 today, look for a move up to 106.
Like the TLT, the GLD is oversold on shorter timeframes.
XLE:
Minor level - 75.78
Major level - 75.00
Minor level - 72.66
Major level - 71.88
Minor level - 69.53 *
Major level - 68.75
Minor level - 67.97 *
Minor level - 66.41
Major level - 65.63
68.75 should act as support and yesterday's low was 68.56.
Two closes above 69.53 and the objective becomes 71.88.
Apple:
Major levels for Apple are 125, 118.75, 112.50, 106.25, 100, and 93.75.
106 should be a major support level for Apple.?
115.63 should act support for Apple.? Apple is oversold on short term charts.
Watch list:
Bullish Stocks: GOOGL, AMZN, ATHN, ULTA,? DIS, RCL, FB, DY, MA, ADBE, V, CRM, TRIP, FSLR, ALGN
Bearish Stocks: IBM, ANTM, TLT, FFIV, VRX, BLUE, WDC, YUM, CLH, NS, EAT, FEYE
Be sure to check earnings release dates.
