December 3, 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
DXJ????? Long???????????????????? 50 ? ? ?????? 49 ?????????????? 53
APPL??? Long?? ? ? ? ? ? ? ??? 520.70?????? 518
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Today's Working Orders...
No working orders
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Stocks...
Spu's...sustaining and closing under 1793.50 today could lead to a descent sell off. ( 96.52) SSO.
TBT...78 should just about line up with the 131 level in the 30 Yr Futures.
Closing over this level will confirm a new wave up in this ETF.
LNG...put in an ORH day yesterday. A test of the old high @ 42.50-60 is next. This is a momentum name that should close on or very near it's high at year end.
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Bonds...
30 yr. Bonds...the sell levels haven't changed. They could probe into 130.31 on the downside, which is the first support area.
You need to see some momentum over 131.19 for higher retraces.
FX...
CAD/JPY...9700 is the closing upside pivot. This is long Canada /Short Yen. Although we remain bearish Yen, we're looking for a low risk way to play it. CAD/JPY would seem to fit the bill.
95 is a low risk level to buy the cross. Otherwise we'll wait for an upside confirmation in the cross to try and go Long with a tight stop.
USD/JPY...102.22 is today's OR # ( app 97.22 Futures). This is where the resting Yen buy stops are.
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Commodities...
General Comments orValuable Insight
You're seeing profit taking and price consolidation going into the mid-week shuffle.
When equity markets go into profit taking mode look for the Bonds to be firm and the Dollar weak as an initial reaction.
Time Frame trading today. I find it hard to believe that investors will pour new capital at the the Indices at these levels.
If you must trade, look at the individual names to play.
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Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Less is more this time of year. Be patient, if you miss something it's much better than taking it in the shorts!
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30/13 ( September 30th) closes as your macro pivots. Trade the opening ranges and early time frames.
Your short term pivots are Friday's closes unless stated.
Just ask yourself..is it trading higher or lower on the month?
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