April 2, 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...
Spu's...could trade into the mid to high 1890's
IYT...the long term buy stops are over 136.95. The market should pause @ 137.30-40, however holding above 137 generates much higher targets.
NFLX...could easily rally back to 390.
XLE...is in rally mode as long as there is no close below 88.
MVV...the resting buy stops are at 68 targeting 68.50. Closes above this level leave way for another 4%-5%.
GILD...76.25 is next resistance and the upside closing pivot for a rally back to the high.
BIIB...325-7 is resistance and the closing upside pivot.
FIVE...42 is support with sell stops below.
TM...with Japan Inc. heating up Toyota looks to be a low risk buy with a 112 closing stop.
F...Ford closed right on it's 200 day mvg avg. 15.75 would be a low risk long.
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Bonds...
30 Yr. ... resting sell stops are @ 132.00. Only price recovery and a close over 132.22 resistance is constructive.
FX...
USD/JPY...105.43 is the 2013 dollar high. 104.28 is a level that appears in the futures @ 95.90 that can hang up the Yen's fall in the short term.
AUD/NZD...put in an ORH day and is following through to the upside. This cross might have bottomed.
If it is indeed a bottom 107.20 should hold on a pullback. Closing over 107.75 is needed for upside momentum.
Commodities...
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...98.70 is the yearly close. Watch for market tone.
General Comments orValuable Insight
ADP comes out @ 7:15 A.M CDT, which is usually a market mover.
Oil traders..EIA @ 9:30 CDT.
Trade individual names on their own merits. They all look different.
Some are at resistance and others look to have some upside potential.
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 technica' s.?
We are Neutral Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
April, 2014 Medium Term Outlook - 2nd qtr 2014
For Glossary of terms and abbreviations click here.
