April 9, 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
Long? USAM??????????????????????????????
Short JYAM??????????????????????? ? ? ? ? ? 98.36??????????????? 98.55???????????? 97.72
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
The Bond Stop and the Yen Stop will be an all session Intra day stop.
SELL?USAM (ZBM) @ 133.04 all session?STOP GTC
BUY? ? JYAM? ? @ 98.45 Stop?? all sessions GTC??
BUY??GCEM @ 1299.50----GCEM is the symbol for June all session Gold
BUY?1? JYAM??@ 97.76? or 1/2 your position.
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Be it known to all traders:
There can be different symbols for Futures!!!!!!!!!
Please check with your quote vendor or?(Broker)?IB .
I.E. 30 Yr. U.S. Treasury Bond Futures...USM is the Pit future symbol
USAM is the all session Globex symbol, the one we trade!
ZB is used by some vendors & IB's
Yen..
JYM is Pit
JYAM is all session Globex
JY6M is all session Globex
Your broker should be able to figure it out if I write BUY the 30 Yr. Treasury Bond Futures or sell the Yen Futures.
Find a new broker if they're that inept.
If they don't understand an OCO order or any other order type, tell them to go to Investopedia and then Find a new broker.
Rule of thumb...
We always trade the Globex Instrument in any Future!!!
I always and I mean always trade the front month Future unless specifically stated!
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Stocks...
GOOGL...needs to sustain over 560 to trade 572.
NFLX...355-357 is resistance. Closing over this level is needed for any meaningful rally.
FCEL...2.20 was a good low for this instrument. As long as it holds, the pattern remains positive.
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Bonds...
30 Yr. ... 133.07 is the qtrly close. Upside momentum builds with a close over 133.20.
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FX...
USD/JPY..we nibbled at a short Yen position late yesterday.
Under 101.50 the only dollar support (Yen resistance) remains at the
200 day mvg avg @ 100.80 (app 99.20 Futures)
I nibbled because I was concerned that if it went to the 200 day I'd want some ammo.
If the board goes "Risk Off" hard again it still could.
Yen Futures...97.87 is short-term support. 102.36 USD/JPY ( app 97.72) is mvg avg support
Commodities...
OIL...I need a close over 103 for further upside.
Gold...this is worth a shot to buy @ 1300 with a tight stop against the 200 day mvg avg. 1298.40.
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General Comments orValuable Insight
First a thank you to Yra for reminding me to "Follow the yellow brick road"
In trading, as with everything your going to succeed at, you need to follow your game plan and stick to your discipline until proven wrong.
I sold the Yen as a hedge against my Long Bonds.
It was one of those trades where the instrument (Yen) just traveled too far directionally into the Chicago close.
Politicians being themselves, I was hoping for the back peddling two step to give the Nikkei a boost, with the commensurate weakness in the Yen overnight.
Today into tomorrow Equity Indices will either confirm or reject the current downtrend.
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.?
We are Neutral Equities.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.