August 9, 2013 - 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

No current positions or working orders

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Stocks..

Equity indices are higher on the month but lower on the week. They look to me to be in a digestive mode. I prefer to let them digest without me.

Bonds...

30 yr...we're going to leave this gestate for a bit before we get involved again.

FX...

EUR/AUD...145.75 is the first place to look for a bounce. This cross has the potential to correct farther than many traders think. I'm mentioning it for those that are involved with?the Euro and Aussie because it will be telling in how the straight dollars will trade.

You must choose your levels wisely if you're buying Dollars against these two outright.

USDMXN...the peso looks like it's trying to form up for another rally in the Peso.
This makes the EWW an instrument of interest.

Commodities...

Oil...105.00 +- 20 ticks is resistance and the upside pivot.

General Comments or Valuable Insight

There is nothing to do but get into trouble today. If you're trading,?keep it simple with opening range trades and tight stops.

It's summer time trading and the robots are in control.

Short Term View...

Trade instruments off their own technical s

Time Frame Trading.

For Glossary of terms and abbreviations click here.

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