December 19, 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
LONG? JJG?????????????????????????????????????????? 38.21?????????? 38.21 Intra-day
.......................................................................................
Today's Working Orders
No working orders.
.......................................................................................
Stocks...
Equities have had a massive one way lemming effect trade into this A.M.
They need to digest a little before being marked up into Year end again.
My favorite names on breaks are UNH,MMM,XLP,BRKA.
IWM...is firm over 118.37.
Bonds ...
30 yr. Bonds..follow the Bonds today. If the Bonds can catch a bid after Chicago opens, The (H) contract has the potential to rally into the mid 144.20's.
Trade the price action.
Match that move up with a little profit taking in the Indices.
FX...
Dollar is up and I would expect this to continue into today's close against the Yen, Euro & Pound.
Commodities...
OIL...were at a crossroads in Oil. We saw a 10% rally into mid week and then the selling resumed as no investors were willing to take delivery of the Physical going into yesterday's ICE WTI expiration.
CME's (F) Jan contract expires today. Treat it as an opening range trade and don't fade the flow.? You have to have an awfully big bathtub to be a buyer, since buying a contract ( unless you're already short) can get you assigned a 1000 barrels of Texas tea.
The Oil majors have stopped the bleeding and look to save their yearly chart patterns as investors take the long view via the names. CVX,OXY,XOM,COP
Oil will be a day trade. With the price action yesterday, another 2-3 dollar flush to the downside is always a possibility with sustained price action under 54 In the Feb WTI.
JJG...yesterday might very well have been the JJG high . We've paid for the trade.
The qtrly chart still looks like this could get marked up into year end. This is up almost 25% this qtr. We'll look to exit at our 42 tgt, on a trailing stop or at year end.
General Comments or Valuable Insight
We're coming to the end game for the year. I'll be sending some comments out over the Holidays, however they will be few a far between.
I'll be writing next Monday at the usual time, after which it's time to recharge with family and friends.
Those of you who are heading out to warmer climates this weekend, have a great holiday and thanks in advance for another productive year!??
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
