January 29, 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
APPL Long????????????? ? ?? ????? 520.70
Orders are "stop on close" unless stated otherwise.
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Today's Working Orders
No working orders
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Stocks...?
Spu's...I'm looking to buy around 1730 with a very tight stop.
Presently, the Spu's are holding point & figure support @ 1770.
Last night's early Asian high (1800) is my qtrly pivot for the S&P 500 Futures this qtr. Closing back over this level would be constructive the equity indices.
Nasd 100...3440 +- 5 points is the next tgt area.
AAPL...in typical fashion AAPL implodes after earnings. The pattern has been for this to hold and start to form up for another move higher after earnings.
Yesterday I was teeing up a 525/555 Call spread just as the phone rang. The master was on the line.
We spent the next few minutes dissecting every possible scenario over a wide array of assets starting with AAPL.
Investing is all about trading with low Risk. John's strategy made the most sense and I promptly shelved my alert.
You want to have trades on that have the highest probability of success with the lowest risk profile.
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Bonds...
30 yr...132.00 is daily support. Price action above 132.23 will run out weak shorts.
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FX...
USD/JPY...102.48 is today's or # (over 97.58 Futures).
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Commodities...
Comments remain the same.
General Comments orValuable Insight
They've tried the markets both ways last night. I would expect some small back and forth going into the Fed release.
The 5 A.M. CDT lows in the Equity indices look descent for now.
We'll send out some off the market orders for the Fed minutes in a couple of hours, after we have time to delve a little deeper into the charts.
You can't play the Lotto unless you buy the ticket.
It's the Mid-Week shuffle...we'll see who's stronger at the end of the day (Bulls or Bears).
Trade your time frames and capital flows.
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 neutral Equities. The next several weeks are setting up to be a big trading affair.
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