December 22, 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?????????? 38.60 Intra-day? 42.00
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Today's Working Orders
No working orders.
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Stocks...
Spu's...as long as 1260 holds on breaks downside is limited.
2020's would be a gift to buy Spu going into year end.
Nasd 100...4258 is support and the downside pivot. Below you could see a 40-50 point break.
DAX...still needs closes over 10,000 and stay over 10,000 for another leg up.
COP,CVX,XOM,RIG,DIG & XLE put in ORH weeks.
DIG,RIG and SLB are all approaching resistance and upside? closing momentum levels.
This is where the action will be into year end.
As long as crude remains above 56.90 the Oil majors will be in rally mode.
FEYE...gains upside momentum by sustaining over 34. This price action could lead to another 10%.
IBB...put in an ORH week. Ride the wave into year end and beyond.
SOXX...is firm over 93.
BABA...gains upside momentum over 111.50
Bonds ...
30 yr. Bonds..trade the price action. 142.27 is support.
FX...
EURO....123.75 is the low risk sell zone.
DXE...the dollar index put in an ORH week. I need to see sustained price action above 90 to signal follow through.
AUD/USD...a close over 82.45 resistance is needed for a rally.
Commodities...
OIL...58.50 is short term resistance. Sustained price action over this level is needed for upside follow through.
General Comments or Valuable Insight
The Oil names will be an opening range trade.
We either get one more small break before year end mid-week or next, or we just go sideways and then up into the New year.?
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For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
