April 22, 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
No current positions
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Today's Working Orders
No working orders
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Stocks...
Nasd 100...put in a new high last night with China strength. A close under 4402.75 is needed to see some cracks develop in the bull thesis. (Today's ORL#)
Midcap 400...151170 is mvg avg support. Only sustained price action and a close below this level would lead to profit taking.
DAX... A close over 12,070 is mvg avg resistance is needed for more strength.
SLB...rallied 12% in a month with Oil to it's 200 DMA on Friday before going into profit taking mode.
It either puts in a mid week low and holds 90.60 or it's in for another 2-4 dollars of downside.
SLB will trade with the oil as with the other names in the energy sector.
Bonds ...
30 yr Bonds...I need to see a close below 162.23 for the Bond to rollover.
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FX...
GBP/JPY...180.14 is 50 DMA resistance. 178.61 is 200 DMA support.
GBP/USD...150.60 is resistance.
Commodities...
OIL...June remains under pressure below 56.60. 55.25 is the last continuation low with resting sell stops below.?
55.25 will be initial support and act as the downside pivot for as much as another dollar.
The EIA storage report @ 9:30 CDT? will get the Texas tea moving along with the energy names.
General Comments or Valuable Insight
The next couple of days will be an earnings lottery with U.S. Indices torturing everyone.
The individual names will be the place to trade for the next few months.
Look at each instrument based off it's own technical s.
It's the mid-week shuffle. We'll keep screening individual names for earnings plays to see if they make sense.
John has been smoking hot. He obviouly cleared out his head with pitchers of Mai Tai's sitting on the beach and has come back relaxed. Ride the ride!
If John does a spread and the prices move and you want to buy the underlying instrument, just send me a note. I'm more than happy to give you a resonable stop level so you can guage the risk in just owning it outright.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.