April 2, 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 VGK ?56 4/17/15 Calls???? ???? ? ?? .50?
LONG SOXX ????????????????????????? ? ?? 91.50???????????? 92.40 Close
LONG?FB??85 4/02/15 Calls???????????? .49
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Today's Working Orders
SELL 15 VGK ?56 4/17/15 Calls?@ 65
SELL?10 ?FB 85 4/02/15 Calls when FB prints 85?
SELL?SOXX @?99.05 OCO (one cancels the other) ?92.40
BUY??AUD/NZD?@ 99.9?6?
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Stocks...
Deutsche Bank & GS were two of the highlights for the bulls.
DB's.. low was 34.71. As long as that holds look for an initial move to 37.
GS... Put in an ORH day. This is a long against 187.70 with an initial 194 tgt. Closes over 194 project to 200.?
GOOGL... needs to find some footing. 541 is a major inflection level on the weekly maps. Closing below would be negative.
Bonds ...
Bund...158.10 is support and the downside pivot. A close over 159.30 is needed for higher.
10 Yr. Bonds...I'm friendly to the pattern as long as we maintain above 128.24.
FX...
EURO...106.86 is fib support.
AUD/USD...is making a new low from last month and is getting oversold.
75.60 is the level to monitor for a possible bear trap. Sustained price action above could run out the shorts.
Aussie would then need a close above 76.60 to confirm bottoming.
EUR/AUD... could go as high as 144.23, it's 200 DMA
AUD/JPY...89.50 is mvg avg support.
Commodities...
WTI & Brent...bounced off of support written yesterday.
The rally was bigger than I anticipated with an ORH day, however the contracts just went from one extreme to another in a few hours.
Bulls... can Oil hold a small correction lower into the 48.75 level and start up?
Not holding this level will give way to another dollar lower.
GOLD...will be played out tomorrow.
Copper...2.80 is qtrly resistance.
General Comments or Valuable Insight
This is your last transmission until 4/13/15.
If there is anything you need please get to me before the afternoon. I'll be immersed in preparing my qtrly technical update.
Mortimer is turning off the screens and taking a much needed head break.
Tomorrow will be a currency, gold, and bond moving unemployment release for the Bots ...I won't be watching!
For those of you who are trading , follow the Bonds.
Saturday night is this months Full Moon with a total Lunar eclipse. That should make everybody nuts except the bots.
Facebook calls will expire worthless today, barring a press release saying Zuckerberg will give all his money back to shareholders.
I've had a big couple of months so I'll just let the other trades alone.
VGK is my ode to Europe, which I prefer over the U.S. Equities.
SOXX...I locked in close to 4% on half the position. Let the OCO order take you out.
You can't lose money on the trade.
AUD/NZD...if filled use a 35 point closing stop. (99.61 Stop Close) Use 4 P.M. EST as your closing time.
This is a trade for cash currency traders of futures traders that are capable of doing both sides of the cross simultaneously at the level.
This is not a good candidate for options or ETF's.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.