• support@madhedgefundtrader.com
  • Member Login
Mad Hedge Fund Trader
  • Home
  • About
  • Store
  • Luncheons
  • Testimonials
  • Contact Us
  • Click to open the search input field Click to open the search input field Search
  • Menu Menu

August 8, 2016 - MDT Pro Tips A.M.

MDT Alert

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
Total Premium collected - $1.95

ASNA Long at $14.20
Total Premium collected - $.75

ETE Long $14.05
Total Premium collected - $1.40

P Long $13.38
Total premiums collected - $.70

DUST Long $4.50
Total Premium collected - $.70

FCX Long $12.45
Short August 12th-$13 Call - $.24

..........................................................................................

Last week, the bull move continued with the S & P 500 closing 9.27 points to the upside, at 2,182.87.

You no doubt recognize that it is now within 3 points of the 2,187.50 objective.? And pre open this morning, the S & P is trading 2.50 points to the upside, so it certainly appears that the objective will be hit.

Friday ended up trading almost 19 points to the upside after the release of the non farm payroll. We had expected a range expansion after two days of contractions.

All eyes will continue to be on earnings releases this week to determine if this move is sustainable.

This week we will hear from a number of retailers, including BABA on Thursday.

Here are the key levels for the markets.

VIX:

Minor level - 17.96
Major level - 15.63
Minor level - 14.85
Minor level - 13.28 *
Major level - 12.50 *
Minor level - 11.72 *
Minor level - 10.15
Major level - 9.38

Watch the 11.72 level today.? A close today under 11.72 and the downside objective should be to 9.38.

Resistance should be at 12.50.? Minor support at 10.16.

S & P 500 Cash Index:?

Major level - 2,250.00
Minor level - 2,234.38
Minor level - 2,203.12 *
Major level - 2,187.50 **
Minor level - 2,171.88 *
Minor level - 2,140.62
Major level - 2,125.00
Minor level - 2,109.38
Minor level - 2,078.12
Major level - 2,062.50

The S & P 500 is within 3 points of the 2,187.50 objective.

To move up to 2,250, it will need two closes above 2,203.12.

Minor support is at 2,171.90.

Nasd 100 (QQQ):?

Major level - 121.88
Minor level - 120.31
Minor level - 117.19
Major level - 118.75 *
Minor level - 117.97
Minor level - 116.41
Major level - 115.63
Minor level - 114.85
Minor level - 113.28
Major level - 112.50

The next level for the QQQ is 117.19.? Two closes above 117.19 and the QQQ should try and reach 121.88.? The QQQ closed Friday just under that level, at 116.78.

Minor support is at 116.41.? Minor resistance at 117.97.

TLT:?

Major level - 143.75
Minor level - 142.96
Minor level - 141.41
Major level - 140.63
Minor level - 139.85
Minor level - 138.28 *
Major level - 137.50
Minor level - 136.72
Major level - 134.38

Watch to see if the 137.50 level holds as support.

If it takes it out, expect a move down to 134.

136.72 should offer support.

GLD:

Major level - 131.25 **
Minor level - 130.46
Minor level - 128.91 *
Major level - 128.13 *
Minor level - 127.35
Minor level - 125.78
Major level - 125.00
Minor level - 124.22

The GLD took out the 128.13 objective Friday.

Two closes under 127.35 and the GLD should drop to 125.

Minor support is at 126.95.

XLE:

Major level - 71.88
Minor level - 71.10
Minor level - 69.53
Major level - 68.75
Minor level - 67.96
Minor level - 66.41 *
Major level - 65.63 *
Minor level - 64.85
Minor level - 63.28
Major level - 62.50

The XLE is inching up to the 68.75 objective.

67.19 should be minor support.? 67.97 should also offer minor resistance.

Apple:

Major levels for Apple are 112.50, 106.25, 100, 93.75, and 87.50.

Apple closed at 107.48 on Friday.? Two closes above 107.81 and the objective should be to 112.50.

106.25 should act as support.

Watch list:

Bullish Stocks: PCLN, AMZN, ULTA, AVGO, RTN, ZBH, FFIV, CMI, FB, SWK, MON, JACK, CME, JACK, ALGN

Bearish Stocks:? ATHN, SRCL, WDC, HIG, CF, VGR, FLO
?
Be sure to check earnings release dates.

Share this entry
  • Share on Facebook
  • Share on X
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share by Mail
https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png 0 0 DougD https://madhedgefundtrader.com/wp-content/uploads/2019/05/cropped-mad-hedge-logo-transparent-192x192_f9578834168ba24df3eb53916a12c882.png DougD2016-08-08 09:20:502016-08-08 09:20:50August 8, 2016 - MDT Pro Tips A.M.

tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Mad Hedge Fund Trader (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. 

Legal Disclaimer

There is a very high degree of risk involved in trading. Past results are not indicative of future returns. MadHedgeFundTrader.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of MadHedgeFundTrader.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.

Copyright © 2025. Mad Hedge Fund Trader. All Rights Reserved. support@madhedgefundtrader.com
  • Privacy Policy
  • Disclaimer
  • FAQ
Link to: August 8, 2016 Link to: August 8, 2016 August 8, 2016 Link to: MOT Alert - (SPX & FB) August 8, 2016 Link to: MOT Alert - (SPX & FB) August 8, 2016 MOT Alert - (SPX & FB) August 8, 2016
Scroll to top