December 20, 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
APPL??? Long?? ? ? ? ? ? ? ??? 520.70?????? 518?????????????? 600
SSO ???? Long?? ? ? ? ? ? ? ? ? ?? 98?????? ?? ???????? ? ? ? ? ?? 104
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Today's Working Orders
Sell?AAPL @?518 stop close GTC?
Sell?Yen?Futures @ 96.80 GTC
Buy USD/JPY @?103.25 GTC
Sell? EURO @ 137.50 GTC
Sell? USH? @ 130.08 GTC
GTC "Good Until canceled"..These are 24 hour all session orders.
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Stocks...
Nikkei...as long as there is no close below 15,500 we still have an eventual tgt? over 17,000.
Spu's...1812 will act as the upside closing pivot.
XLV...Love this with a 54.25 stop.
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Bonds...
30 yr. (Mar)...the? Bonds will spend the next week and a half trying to rally a point to a point and a half.
We're placing an open order to sell the 30 Yr. Bonds @ 130.08
FX...
USD/JPY...Buy Dollars against 103.25/sell the Yen @ 96.85
EURO...put in a trad able top pattern Wednesday "ORL DAY". The crosses have not confirmed that the Euro is the leader in the Dollar trade.
We'll put the Euro on sell the rally list with a resting open order to sell @ 137.50 GTC with a 25 point closing stop.
AUD/USD...90.10-40 is resistance.?"Futures traders" the forward is -50 ticks to Cash which brings the corresponding March Future level to 89.60-90
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Commodities...
Gold...the macro sell stops are under 1180. The longer term downside tgt is the 1080 level.
OIL...we're trading (G) FEB. 99.20 will act as the upside closing pivot.
General Comments orValuable Insight
Yra Harris?http://yragharris.com/?my old office mate, 40 yr. friend, hall of fame trader and one of the few sentient beings to appear on CNBC made an interesting observation last night about the Swiss Franc.
The Dollar is trying to turn up against the continental currencies.
It's already been on a tear against the rest of the world, so the game is which shoe is next to drop.
This enclosed chart shows that the Swiss Franc, which is coming very close to a 40 yr. retrace #against the Yen, leaving the Swiss looking to be the juiciest to tgt. for downside against the Greenback.
This is definitely worth keeping an eye on. USD/CHF is quietly attempting an ORH week with a close over 89.42 ( Under 111.93 Futures).
Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We're looking for the Equity Indices to rally through the first week of the year.
?For Glossary of terms and abbreviations click here.
