August 31, 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

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

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If you did not get a chance to read the special report, you can download it at this link ...

https://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.

VIPS ended up closing just above the $19 strike, at $19.03.? I will assume you were assigned on the calls.

Last week, you should have been assigned on CIEN and VIPS.
CIEN worked out to be a 2.3% return for 3 days and VIPS was a 4.6% return for 4 days.

Now onto the markets.

The markets recovered last week from the sharp sell off.
A restest of the low would not be out of the question.

The VIX should help us determine where the market should reverse.? Watch how the VIX trades around key levels.

Here are the key levels for the markets.

Stocks...
?
VIX:?

Major level - 43.75
Major level - 37.50
Major level - 31.25
Minor level - 29.68
Minor level - 26.56
Major level - 25.00
Major level - 18.75

Resistance should be at 31.25.?? A reversal to the downside and the markets should head up.

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

The objective should be 2,000.? But that level should act as resistance.

Nasd 100 (QQQ):?

Major level - 109.38
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

Lower levels should act as support.

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 121.88 level should act as support.? if it doesn't, I would expect 118.75 would.

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 - 68.75
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

The XLe closed above the 65.65 level on Friday.
Look for 62.50 to be support.

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 above 112.50 and had a strong reversal on the weekly chart.? Look for lower levels to be support.

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.