August 28, 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 Bill Davis, 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

GOGO? Long at $19.93
Premium collected - $1.25

NCR Long Jan 15 $27 Call
NCR Short Jan 15 $32 Call
Net Debit - $1.70

VIPS Long at $18.88
Short August 28th - $19 Call @ $.75

CIEN Long at $21.91
Short August 28th - $22 Call @ $.42

VNR Long at $8.91
Short September $9 call @ $.50

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Before I begin today's update, I want to mention that the special report is now posted in the members area.

You can download it at this link ...

http://www.madhedgefundtrader.com/wp-content/uploads/2015/08/Major-Market-Outlook-August-2015.pdf

If you have any comments or questions please feel free to email me at davismdt@gmail.com.

There are two open position with options that expire today.
Both are slightly in the money.? My suggestion is to leave the positions alone.? If they are in the money on today's close, they will be assigned and your stock will be sold.

Now onto the markets.

The markets continued their bounce from this oversold condition.

Pre open, the markets look to be giving back some of the gains.

Watch the VIX and if it stalls and starts to head down, the markets should move up.

Here are the key levels for the markets.

Stocks...
?
VIX:?

Major level - 50.00
Major level - 43.75
Major level - 37.50
Major level - 31.25
Minor level - 29.68
Major level - 25.00
Major level - 18.75

The VIX is right at the 25 level.?? 31.25 should be resistance.? A close today under 29.69 and the VIX should hit 25.

S & P 500 Cash Index:?

Major level - 2,000.00
Minor level - 1,976.62
Major level - 1,968.80
Minor level - 1,945.32
Major level - 1,937.50
Major level - 1,906.30
Minor level - 1,882.83
Major level - 1,875.00

A close today above 1,976.62 and the objective is 2,000.
Support should be at 1,968.80.

Nasd 100 (QQQ):?

Major level - 106.25
Minor level - 103.91 *
Major level - 103.13
Major level - 100
Minor level - 99.21
Major level - 96.88
Major level - 93.75
Major level - 90.63
Major level - 87.50

The QQQ is almost back to the 106.25 level.
It closed yesterday at 105.64.

A close above 103.91 today and 106.25 should be the objective.

TLT:?

Major level - 131.25
Major level - 128.13
Minor level - 125.78
Major level - 125
Minor level - 124.22
Minor level - 122.66?
Major level - 121.88
Minor level - 121.09 *
Major level - 118.75

The TLT is right at the 121.88 level. 125 should be the next objective.

Short term timeframes remain in uptrends.

GLD:

Major level - 115.63
Major level - 112.50
Minor level - 110.16 *
Major level - 109.38
Minor level - 108.60 *
Minor level - 107.03
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13

106.25 should be strong support.

Lower levels should act as support.

XLE:
?
Major level - 65.63
Minor level - 64.85
Minor level - 63.28 *
Major level - 62.50
Minor level - 61.72
Major level - 59.38
Minor level - 58.60
Major level - 56.25

A close above 63.28 today and the objective should be 65.63.

Apple:

Major levels for Apple are 112.50, 106.25, 100, 93.75 and 87.50.
100 should be a major support level for Apple.?

Apple closed yesterday at 112.92, just above the 112.50 level.
110.94 should be support. For Apple to move higher, it will need to close above 114.06.

Watch list:
Bullish Stocks:? PANW, ULTA, MNST, CELG, COST, MA, EA, CTB

Bearish Stocks: FDX, BIDU, IBM, MMM, CMI, RL, DDS, UNP,? ASML, WYNN, DECK, XLE, FOSL,QCOM, SCTY

Be sure to check earnings release dates.