February 27, 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
Short CLEJ?????????????????????????????????????????????????? 102.85?????????????? 103.15
Long?? TLT?????????????????????????????????????????????????? 107.81?????????????? 107.15???????????? 109
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
OIL...BUY 1 Contract or 25% @ the market upon receipt.
102.30 is unchanged on the week. It tried to press under the level last night and couldn't.
Crude needs convincingly under 102 to weaken.
We're going to pay for our stop by taking 25% off and reducing our risk profile.
The Futures are @ 102.39 as I'm writing.
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Stocks...
DECK...put in an ORL day. 81.85 looks to be the go or no go level. Good above/negative below.
TSLA...shows weekly wave counts around 275.
AMZN... near support is 355. Resistance starts around 372. 375.50-387 is no mans land for initiating new positions.
AAPL...will be hard pressed to show anything below 511 for the rest of the week.
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Bonds...
30 yr. Bonds...135.25-136.08 is the big over hanging weekly resistance.
Sustained price action above 135.15 next week is needed to change the look of the long term charts.
FYI...the world starts trading June Bonds over the next couple of days.
This means the volume will shift to June.
I will remain in March (H) for the next couple of weeks.
TLT...109 is going to be the first big area to test on a weekly chart.
This is an exit zone and a place to pay for your trade the first time up.
FX...
EUR/AUD...15400-10 remains resistance and the upside closing pivot.
AUD/USD...89.16 is the 2013 close. This is a do not sell into zone.
88.70 would be a good spot to trap shorts the first time down on a level overrun.
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Commodities...
OIL...102.90 is point & figure resistance. 103.45 is the upside pivot where the current buy stops are.
Gold...point & figure resistance is 1340. Sustained price action under 1325 is negative the yellow metal.
Natgas...4.85 is resistance. Price action into the 4.25 level should be viewed as an exit level for shorts, not a place to initiate a new trade.
LCG...Feb cattle expires Friday. All the wave counts come in around 150.
So I would say this is a great exit zone for a market that has had a massive rip over the past month.
While the April contract could show some initial strength into next week, and rally as high as 155, I'd still need to see some sustained price action over 150.
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General Comments or Valuable Insight
Soybeans are coming into the upper qtrly parameters just shy of 14.50 at the same time the front month cattle is coming into major wave targets.
It's time for the Bulls to pay attention for a possible red flag.
For Monday's trade you want to keep it very simple; just ask yourself whether the market is higher or lower on the month and trade accordingly.
Opening Range Time Frame Trading again today.
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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 are positive Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
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