August 14, 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

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Long GBP/USD? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 166.75

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Today's Working Orders

SELL?USAU?(30 yr. Bond Futures)?@ 140.14

SELL 1/2 Long GBP/USD @ 167.45 GTC

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Stocks...

Spu... 1952 is 50 DMA resistance. It will take a close over this level to start turning this Index positive.

EWP...40.00 is 200 DMA resistance. Closing over 40.50 targets 42.

VIX... 12.60 is 50 DMA support. This level should roughly line up with 1952 in the Spu's the first time in. 13.64 the 200 DMA, now resistance.

Bonds...

FX...

Euro...Price action and a close under 133.30 is needed to see another 100 point sell off...Price action above 134.25 is needed to run out weak shorts.

GBP/USD...166.64 is the 200 DMA support and a good place to look for a bounce with the RSI's getting oversold.

NZD/USD...has finally bounced above it's 200 DMA. 85.17 is resistance and the upside closing pivot for more strength.

Commodities...

Brent...104.62 is resistance and the closing upside pivot.

Oil (WTI)... near resistance is 97.60, however the point & figure shows a wiggle to 98.10 is still possible without changing the pattern.

Sell rallies/not breaks

General Comments orValuable Insight

We bought some British Pounds against the 200 DMA. I'll write a stop in a bit after I see how it trades.

I doubt I'll give this more than 25-30 pips of room before pulling the plug.

This needs to sustain back over 167.00 to begin to turn up.

For Medium Term Outlook click here.

?For Glossary of terms and abbreviations click here.

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