April 11, 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.
I will be out of office (out of the country) traveling for meetings through next week.
The lack of bandwidth to run my proprietary studies?on my?sojourn?renders my laptop an? overweight iPad.?
I won't be writing until the 21st.
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Current Positions
No Positions
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No Working Orders
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Stocks...
DAX...9300 is final support and the closing downside pivot.
Nasd 100...caution back over 3500.
3364 is the 200 DMA and should bounce.
3260 is the level that would be attractive for a longer term buy and hold.
IWM...anywhere near 110 (the 200 day mvg avg) is an exit zone.
Nikkei...qtrly sell stops below 13,940 were elected last night, which targets 13,600-13,325 the first swing count and support area.
Nikkei needs to sustain above 14,500 to regain positive footing.
VIX...needs over 16.60-80 for a test of 19 ish.
VXX...44.15 is resistance and the upside pivot. Above look for 46.30 as the next exit.
EWI...17.30 is support and the downside pivot for another 50 cents.
EWG...put in an ORL day. 30.59 is first support. Closing below 30.50 should have this move in 50 cent increments to the downside.
29 is the 200 DMA
EWP...40.66 is the weekly ORL. A close below 40.25 is negative
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Bonds...
30 Yr. ... qtrly resistance levels are as follows, 136.12-15 then 2 points at a time with the ultimate sell level @ 140.15.
This is where you look for another multi year short.
10 yr.. (TYAM) traded to the tgt. A couple of closes over 125 is needed for another swing up in the Ten yr. to materialize.
The Ten Year has completed a swing that's been three weeks in the making.
FX...
EUR/AUD...price action above 148.26 ( 200 DMA) will cause this cross to go into rally mode for another figure.
Commodities...
OIL...price action below 102.80 will run out weak longs.
Gold...I'm looking for this to trade into the 1328-33 area.
Closing over 1336 will lead to another 30+ dollars.
By not holding 1316 Gold could retest the 200 DMA @ 1300
General Comments orValuable Insight
I've pretty much laid out the board over the past few weeks.
Be patient today and let the board play out.
We'll send out our dream list of buy levels for some individual names a little later in the A.M.
Opening Range Time Frame Trading again today.
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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.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.