August 28, 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
Long IWM ?????????????????????
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Today's Working Orders
Sell IWM 115.00 Stop Close
Sell Euro @ 132.70???
Sell Yen? (JYAU) @ ??97.04 =103.05?USD/JPY?
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Stocks...
Spu's and Nasd 100 are overbought. The patterns are sideways to lower for a bit to relieve the RSI's.
Be patient today into tomorrow to see if investors want to cash out after this big run up into the U.S. holiday or just stand pat.
I've raised my stop in the IWM to 115.00 Stop Close
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Bonds ...
30 yr. Bonds...put in an ORH day and is following through to the upside. The roll has started in the Treasuries, with the December (Z) now front month.
142.00 is the Sept tgt #
FYI...I will be writing and trading off the Sept. for the next two weeks.
The spread is currently around 1 1/2 points.
FX...
Euro...is trading short term oversold. Sell rallies not breaks.
132.80 is the low risk sell zone for the rest of the week.
USD/JPY...103.30 ( app 96.80-90 Futures) is the place to sell Yen.
Commodities...
OIL...94.80-95.00 is resistance. Look for price rejection here the first time up.
Natgas...(V) October is front month. 3.95 is short term support. Price action below 3.89, traders should be defensive. A close below 3.86 could lead to a retest of 3.72.
Natgas inventories should be monitored @ 9:30 CDT for a break and a hold in the Futures.
The patten looks constructive. Buy before you sell in the high 3.80's with a tight stop.
Gold...1296 is resistance and the closing upside momentum #.
General Comments orValuable Insight
We're seeing the mid-week shuffle here in the Equity Indices run by more unrest in the Ukraine and general caution about being long Europe over a long weekend.
The Commonwealth countries and the U.S. should continue to be the recipient of nervous capital outflows from Europe and Russia.
That means Bond buying and a possible spill over into U.S. Equities.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.