April 1, 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
No Current Holdings
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working?orders
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Stocks...
Nasd 100...3593 is unchanged on the year.
GOOG...1120.70 is the 2013 close. Matched up with yesterday's close 1114.50,will become the macro pivot.
DVN...has had an inside qtr (not going anywhere). Sustained price action above 66.92 could change that.
GS...needs a close over 164.20 for higher.
LNKD...176 is support and the downside pivot.
AMZN...337 is the monthly ORL#. Amazon needs price action back over 342 to think it's bottomed.
TSLA...put in an ORL day with a close below 210.27. New closing strength over 212 is needed for a trad able low. 190 would be the first place to look for a bounce.
XLF...22.70 is monthly resistance
Bonds...
30 Yr. ... need a close above 133.24 to rally and a close below 132.23 to weaken.
FX...
Euro...137.16 is today's weekly mvg avg support. new price action over 138.20 is needed to rally anywhere.
EUR/AUD...149.85 is the monthly ORL #. This remains resistance.
Any print near 147.97 should be deemed a "do not sell" zone again. This is the 200 day mvg avg. and the cross would be oversold at this level.
Other than being oversold on the daily charts, this could turn into a bigger trade.
KIWI...as long as 85.45 holds on breaks the Kiwi will remain firm.
The short term wave count comes in around 88.00
Commodities...
Natgas... new closing strength over 4.60 resistance is needed for any rally.
Gold...New strength over 1297 ( today's 200 day) is needed for any rally to ensue.
Silver...needs a close under 19.70 to show weakness.
Soybeans (K)...by holding over 14.40 we're looking for Beans trade to close to 15.20.
Corn...the chart pattern in Corn looks good as long as it keeps closing over 4.91
Oil.. support starts @ 100.55 through 100.09
General Comments orValuable Insight
Today is really simple.
Just ask yourself if the instrument in question is higher or lower on the qtr or the year?
Yesterday's closes ( the qtrly close) are your intermediate pivots in everything!
The logical first move that most traders will look for is up. "Capital flow 101" qtrly income averaging by mutual fund investors.
A failure to hold a rally by 9 A.M. CDT will bring the Bears back out, looking to sell.
Let the market and time frames will tell you what to do today.
This is a big data driven week.
Opening Range Time Frame Trading again today.
The medium term view for the second qtr comes out later today for current subscribers.
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical's.?
We are Neutral Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.