September 3, 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

????????????????????????????????? ? ???????????????? Entry?????????? Stop????????????????? TGT

Long IWM ????????????????????? ??????????????? 115.25???????? 115.00 Stop Close
Long TQNT?????????????????????????????????????? 19.40????????? 19.00 Stop Close

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Today's Working Orders

SELL 1/2 Long IWM @ 118.65 GTC

Sell IWM 115.00 Stop Close

Do not forget to cancel or adjust your orders if filled on either sell order!

If filled on the order to take 1/2 off, reduce the size of your trailing stop.

Sell TQNT 19.00 Stop Close

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Stocks...

Spu's...still tgt the low 2020's

Nasd 100...4160 is the next tgt.

Bonds ...

30 yr. Bonds.. I don't have an interest in selling the Bonds mid-week after a 2 1/2 point break.

FYI...I will be writing and trading off the Sept. into the end of next week.

TLT...116.30 is trend support and the closing downside pivot.

FX...

Currencies are directionally challenged. We've just had big moves in the straight dollars and the crosses coming into today.

GBP/USD has retraced to all the way back to it's March Low. Yen has moved in 3 weeks to it's Dec. 2013 dollar high.

Yesterday's levels remain the same in the straight dollars and the crosses.

Given it's mid week after some very big moves, instruments are going to take a breather going into tomorrow's ECB,BOE & BOJ meetings.

Commodities...

OIL...the point & figure shows that sustained price action above 94.35 leaves room for it to retrace most of yesterday's losses.

General Comments orValuable Insight

The indices are a grind with the biggest opportunity in individual names.

Hopefully we'll see our partial profit level reached in the IWM today.

Don't fight the flow!!

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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