April 16, 2015 - 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 SOXX ????????????????????????? ? ?? 91.50???????????? 95.10 Close
LONG? FEYE?????????????????????????????????? 41.75??????????? 41.65 Close
LONG? XLV?????????????????????????????????? 73.90??????????? 72.70 Close
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Today's Working Orders
SELL SOXX @ 99.05 OCO 95.10 Close
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Stocks...
ACT...needs new closing strength over 302.50 for a run to the highs.
BMY...needs to hold 63.40 close to keep pattern integrity.
MBLY... Anywhere near 43 would be a low risk buy.
NFLX...the 545 fib extension was hit shortly after earnings. This is the third gap up which classic charting analysis tells us can be an exhaustion gap. Exercise caution if you wish to chase this.
It will take some price action for a day or two to determine whether this leaves a third gap intact or comes back down to retest the Feb high of 486 .
Bonds ...
Bunds...159.00 remains support. Looking for the Bunds to trade in close to 100 point increments to 162.00
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FX...
EURO.... Closing under 105.40 will lead to the low 101's. Sustaining over 107.33 is needed for an attempt at 108.
AUD/USD...77.41 is the weekly ORH #. By holding this level look for 78.70.
EUR/AUD...137.18 is a potential double bottom level on a monthly chart.
136.71 is mvg avg support the first time down.
AUD/NZD...102.77-103 is good first resistance. Anyone playing this cross with a long term view should lock in some money here and pay for the trade.
Then raise your trailing stop to break even, close your eyes and pretend to be Rip Van Winkle.
USD/JPY...is trading at the low end (high in futures) of the range for the past 5 months. 118.75 is the monthly OR level (84.25 Futures)
Commodities...
GOLD...keep your eye on the European Bonds. If these remain firm you'll see some buying with sustained price action over 1207 (last weeks close), look for a tedt of the low 1220's.
WTI...I need a close over 56.70 for more upside.
Natgas...the resting weekly buy stops @ 2.71. I wouldn't look for more of a rally than a running of these weekly stops.
General Comments or Valuable Insight
VIRTU, ETSY, & Party City going public today. Think opening range trading.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
