October 15, 2013 - 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
Long AUD/USD 25%?? ? ? ? ?? 94.32 ????? 93.70 Close??????? 95.25/96.75
Long FXA 25% ????????????????? 94.31?????? 93.80 Close??????? 95.15/96.70
This is a 25% position.
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Today's Working Orders...
SELL?AUD/USD?@ 93.90 OCO 96.70 GTC?"Good Till Canceled"
We're leaving resting sell orders in the Aussie 5 ticks below the tgt.?This means you should have an "OCO" order working to sell @ 93.90 or 96.70 OCO "?One?Cancels the?Other"
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Stocks...
GOOG...is good as long as it does not print 864
PIN...by maintaining over yesterday's high, this tgt's 18.46 next.
FXI...38.90-39.02 is the next resistance area. Once above look for another dollar.
EWW...maintaining above 66 gets this moving to 69.
Bonds...
FX...
EUR/AUD...resting sell stops are @ 141.93. The short Euro side of the spread is running the cross.
EURO...macro support is 133.70
AUD/JPY...should run into big resistance @ 94.65-75.
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Commodities...
Gold & Silver...should continue to remain under pressure as long as?the equities remain bid.
General Comments orValuable Insight
We were filled last night in early Asia on our resting sell orders in the Aussie.
Yesterday was a bit unusual in that the ETF orders got filled and not the cash. Typical, that after sitting through 10 days of angst, Aussie will now rip right to our tgt with us not having a full position.
Apparently I've been around so long I've become ultra conservative with risk taking. I'd rather keep adding to the year with low risk definable bets, that can be managed on a 24 hour basis, than leave myself open to political whim.
DXJ, AUD/USD,DE,XLI,XLP,PRU,EWH,UA,
Wall Street is ignoring K street. It's a Risk On board.
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Short Term View...
We're in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
Pay attention to the opening range in NY. The pattern has been an early hold followed by steady flow into risk assets for the duration of the day. Use the early level for market tone.
For Glossary of terms and abbreviations click here.