December 1, 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

????????????????????????????????? ? ???????????????????????????? Entry????????? ? Stop????????????????? TGT

Long??Ford (F)???????????????????????????????????? 14.19?????????? 14.00 Close

LONG? JJG?????????????????????????????????????????? 38.21

Long GDX 5 DEC 14 21 Call?????????????? .36

LONG SLV 12 DEC 14 16.50 Call????? .16

 

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Today’s Working Orders

No working orders.

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Stocks…

Spu’s…could go as low as 2046 and hold up.

Midcap…14,300-14,320 is support and the closing downside pivot.

DAX…10,000-10,050 is the resistance zone and the closing upside pivot.

Airlines…Follow the oil. The Airline stocks have come a long way and are a little rich up here.

 

Bonds

30 Yr. Futures… we’re back at 144.14, which has been a pivotal level for the past few quarters. Give this a little time this A.M.

 

FX…

GBP/USD…157.30-40 is short term resistance and today’s ORH level.

 

Commodities

OIL… 69.50 is resistance. Only price action above this level will hurt the long term Bears.

Copper…it only took three years to get the stops and some follow through below 2.95.

2.74 is bounce zone the first time down.

By remaining under 2.95, Copper could trade to 2.53. Sell big rallies/ not breaks.

Wheat…has been keeping the JJG firm. 5.85-7 is key closing resistance, which we’ll monitor for our JJG long.

 

General Comments or Valuable Insight

Let the board set up this A.M. We’ve seen some big moves over the holiday weekend in the Metals and Oil.

The Metals & Oil are stabilizing for now after overnight swan dive, awaiting NY traders to come back to their desks.

The Rouble is imploding with Oil prices. The Pound is seemingly the beneficiary.

A general rule of thumb is to use Friday’s closes for your pivots and general market tone.

I took a couple of small bets via the options in the metals for a possible upside breakout.

I’m just going to leave them alone into expiration and be very happy I didn’t have a Long futures position on.

 

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.