April 30, 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... closing over 1874 will run out the short sellers.
1864 was the qtrly close. Since it's month end this will become a big pivot late in the day. Good above/Negative below.
Late price action below 1860 (last weeks close) will be needed to entice more sellers.
VIX...12.60 is where to look for a potential bottom. if nothing else you should see a bounce off the level matching a short term high in the Equity Indices.
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Bonds...
30 yr. Bonds... 133.24 is first support with stops below. 133.14 is the next level. Sustaining below this level would leave room for a test of the 200 DMA @ 132.20.
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FX...
Euro...is stuck. It needs a close below 137.70 to attract sellers.
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Commodities...
OIL...has run the near term sell stops below 100.45. Recovery and a close over 100.60 (200 DMA) today's near term resistance, is needed for a rally.
99.30 is next fib support.
Brent...109.00-25 is mvg avg resistance and the closing upside pivot.
Resting sell stops are @ 107.85
Gold...1300 is the pivot in Gold. Weak below.
June Cattle (LCM)...136.45 is near support. As long as this holds
I'm friendly to the market.
135.64 is the lowest risk buy zone. Only closing below this level would have us looking for lower prices.
General Comments orValuable Insight
Today's is month end with all eyes on this afternoon's Fed release.
I doubt there will be little if anything to do before except to get into trouble.
There is an April Cattle Futures Expiration today. June is Front Month.
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.?
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.