January 22, 2015 – 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

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No open positions.

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Today’s Working Orders

No working orders.

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Stocks…

MBLY…put in an ORH day. Sustained price action and a close over 40.20 confirms the low.

UAL & ALK have the same chart patterns. Both look to go higher into earnings early today, however I think a gap up on the opening needs to be used to take profit on longs.

LUV…Southwest also reports today. This pattern has a better risk profile. 40.15,yesterday’s low, should be used as a stop to manage risk.

Spu’s…2043 is today’s 50 DMA. We’ll need a close over this level to extend higher.

Nasd 100…4228 is today’s 50 DMA. We’ll need a close over 4265 to extend higher.

 

Bonds

30 Yr. Futures…149.04-06 will be pivotal early. Above/Bonds could rally back toward 150.00 or higher. Below/Bonds are vulnerable to a 2 point drop.

The last time the slow stochastic crossed we saw a 5 point break in the Futures.

Bunds…155.96 is today’s momentum level. This is a mvg avg trend line that has been holding since November. Bunds are weak below and can bounce by holding.

 

FX…

EURO…same as yesterday. Above 116.70 there is room for a rally to 118.10.

USD/JPY…119.00 (below 84.10 Futures) starts a new leg higher in the this dollar.

EUR/AUD...put in an ORH day. 143.09 will be the short term hold level. 145.00-145.25 is mvg avg resistance into the 200 DMA.

 

Commodities…

OIL…the point & figure needs to hold 46.90 to remain firm. This will probably be the least volatile instrument to trade today. 49.45 is mvg avg resistance.

51.60 is intermediate momentum resistance. Oil has not closed above this avg since Oct. 1. Mega Bears…this is where to give it a go again on the short side.

Natgas report @ 9:30 CDT

EIA Petroleum status @ 10:00 CDT

Silver…17.15-20 is support and the low risk buy zone. 1846 is the 200 DMA.

GOLD…1255 is the 200 DMA (support). 1242-45 is the lowest risk daily buy level.

1300 is resistance. Sustained closes above 1300 can lead to a test of 1400.

Price action today under 1280 is needed for more profit taking.

 

General Comments or Valuable Insight

It’s going to be a robot driven sleigh ride after the ECB and into Chicago’s opening with the press ECB conference @ 7:30 CDT

Today will be another episode of “Beat the Bots”

Just be aware of new highs or lows from yesterday followed by reversals ( possible directional traps or lack of follow through) in whatever you choose to delve into early.

 

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.