April 8, 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
.......................................................................................
Today's Working Orders
No working?orders
.......................................................................................
Stocks...
TSLA...203 is current pattern support with resting sell stops below.
191 is weekly support. The lowest risk buy zone is 167.
XLY...62.50 is the 200 day mvg avg.
XLI...the longer time frame charts show this is vulnerable for a bigger correction.
XLK...closed near interim support. A good close below 35 will lead to a much deeper correction.
FB...needs recovery over 58.10 for higher.
IBB... has a potential qtrly double bottom @ 222.25, just above 218 it's 200 day mvg avg.
Nikkei...closes below 14,300 will lead to a much deeper correction.
?
Bonds...
30 Yr. ... 133.07 is the qtrly close. Upside momentum builds with a close over 133.20.
FX...
AUD/USD...as long as this stays above 92.70 we're looking for just over 94.00.
This is best played against the Euro.
GBP/USD...is breaking out over 162.65
USD/SGD...the Singapore Dollar is getting a flight to quality bid today.
This has been in a range for the past few years and might be showing signs of breaking out.
Commodities...
Copper... everybody seems to be obsessed with selling copper in the wrong spot because they view it as a risk off trade.
Until it closes below 2.95 it's a high risk short.
?
General Comments orValuable Insight
Just a note on timing....the buy programs have been coming in around 1:45 CDT on big down days, running out weak shorts.
Last night's disappointment in Japan is spilling over to world Indices.
Investors are buying Aussie,Pounds,Singapore Dollars, Gold & Oil as a reaction to further selling of equities.
Trade what's in front of you with tight parameters
Opening Range Time Frame Trading again today.
?
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.?
We are Neutral Equities.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.