December 17, 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
Total Premium collected - $1.25
Short December $20 Call - $.30
NCR Long Jan 16 $27 Call
Net Debit - $.80
X Long at $14
Total Premium collected - $.89
ASNA Long at $14.20
Total Premium collected - $.75
LUK Long December $18 Call - $.35
ETE Long $14.05
Short December $15 call - $.30
VNR Long $2.97
Short December $3 Call - $.30
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The Fed announced their long anticipated rate hike yesterday of quarter of a point.
The markets initially spiked down about 12 points and then continued up about 30 points.
All said, it was fairly tepid.
As this happened, the VIX dropped from around 20 to a low of 17.12.
Having said that, the S & P closed at 2,073.07, just above the 2,070.33 level.? If the S & P can close above 2,070.33 today, it should continue up to 2,093.
Here are the key levels for the markets.
?
VIX:?
Major level - 25.00
Minor level - 23.44
Minor level - 20.31
Major level - 18.75
Minor level - 17.19
Minor level - 14.06
Major level - 12.50
A close today under 17.19 and the VIX should try and retest 12.50.? However, 14.06 and 15.63 have been strong support in the past.
S & P 500 Cash Index:?
Major level - 2,093.80
Minor level - 2,085.98
Minor level - 2,070.33
Major level - 2,062.50
Minor level - 2,054.68
Minor level - 2,039.10
Major level - 2,031.30
Minor level - 2,023.48
With a close today above 2,070.33, the S & P should try and test 2,093.
Support should be at 2,062.
Nasd 100 (QQQ):?
Major level - 115.63
Minor level - 114.85
Minor level - 113.28 *
Major level - 112.50
Minor level - 111.72
Minor level - 110.16
Major level - 109.38
Minor level - 108.60
Minor level - 107.03
Major level - 106.25
A close today above 113.28 and the QQQ should try and test 115.63.
Lower levels should be support.
TLT:?
Major level - 125
Minor level - 124.22
Minor level - 122.66
Major level - 121.88
Minor level - 121.09
Minor level - 119.53 *
Major level - 118.75
Minor level - 117.97
Minor level - 116.40
Major level - 115.62
The TLT will still need two closes under 121.09 to move down to 118.75.
GLD:
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13
Minor level - 102.34 *
Minor level - 100.78
Major level - 100.00
Major level - 96.88
The GLD continues to bounce between the 100 and 103 levels.? For it to move up, it will need to close firmly above 103.13.
Still in a downtrend.
XLE:
Major level - 65.63
Minor level - 64.85
Minor level - 63.28
Major level - 62.50 *
Minor level - 61.72
Minor level - 60.16
Major level - 59.38
Minor level - 59.60
The XLE continues to struggle to get above the 62.50 level.
The XLE would need two closes above 63.28 to move up to 66.? Two closes under 61.72 and it should drop to 59.38.
Apple:
Major levels for Apple are 125, 118.75, 112.50, 106.25, 100, and 93.75.
106 should be a major support level for Apple.?
Apple bounced up from it's oversold condition and closed just under the 112.50 level yesterday.
It will need two closes above 114.06 to move up to 118.75.
Watch list:
Bullish Stocks: PNRA, CI, ULTSA, DPS, FSLR, TSN, ELS, CUBE, PANW, HD, CLX, ADBE
Bearish Stocks: CBRL, WBC, PVH, DDS, AXP, DVA, BG, WSM, CMI, BLUE, KEX, AKAM, OUTR, CF, CLH, WES
Be sure to check earnings release dates.
