November 12, 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??JJG??????????????????????? ???????????????? ? ? 37.00 ? ??????? 36.80 ? ????????????? 42

Long??Ford (F)???????????????????????????????????? 14.19?????????? 13.80

The above stops are Stop On Close.?? ? ? ? ? ? ? ? ? ? ? ???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ?

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Today's Working Orders

No working orders.

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Stocks...

Welcome to the mid-week shuffle.

There is no change to the technical levels in the major indices.

Many individual instruments are trading overbought.

Nasd 100...4138 is the first support.

Spu's...2013-14 is descent support today. You still need a close below 2020 to begin to see profit taking in the Indices.

Bonds ...

30 Yr. Futures... 142.10 is weekly resistance and the closing upside pivot.

FX...

AUD/USD... 87.35-50 is closing resistance that has to be overcome to believe the pattern. Holding above this level could lead to a run to 88.40.

EURO...for new direction Euro has to see new price action either above 125.10 or firmly below 124.00.

USD/JPY... 112.65 (88.77 Futures) is the place to Buy Dollars / Sell Yen.

GBP/JPY...The Pound is today's whipping boy on the crosses against the Euro & Yen.

Commodities...

OIL...78.55 is today's resistance and upside momentum #. 77.10-76.90 is early Point & Figure support.

Natgas...tried to penetrate it's 200 DMA and failed. Below 4.14 this could retest 4.02.

General Comments or Valuable Insight

European weakness will be the key market driver today.

The U.S. has been shrugging off European woes after London's close

Trade your time frames and pick a side if you're day trading.

Take it one level at a time.

Most of all, be patient.

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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