January 31, 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
Spu's...(ESH4)?BUY?@?1732?? GTC
Nasd 100...(ENQH)?BUY?@??3441?? GTC
USD/JPY...Sell?Yen @?100.35 (H) Futures..or
Buy?USD/JPY?@?99.65?? GTC
GTC...Good Until Canceled
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Stocks...?
Spu's...resting sell stops are below 1760.
CAT...has had a huge bounce from last Friday's plunge to the 200 day mvg avg. This bounce looks completed. 94 is the short term tgt for this bounce.
?
Bonds...
30 yr. Bonds...134.24 is the continuation 200 day mvg avg.
Bunds & Italian Bonds...look too rich to chase.
?
FX...
AUD/USD...a close below 87.10 puts in an ORL day.
?
Commodities...
Natgas...The last time we had an expiration squeeze and a blow off high in an energy contract like we saw in the Natty, was the Oil in 2008.
To put it into context, that was the high for an 85 dollar break in Oil.
Trade what's in front of you one step at a time! 4.86 daily & weekly? support. Closing below 4.70 should lead to another puke.
This is not a place to press direction (Initiate a new trade) for those that passed on his trade recommendation.
John's UNG trade is a?Monster homer!!!!!!!!!
In fact, the trade will be in the Money on today's opening.
Gold...1250-52 will be pivotal. With a Risk off board (stops being run in the Spu's) a rally to the low 1260's is possible. Don't be in a hurry to sell the Gold with a Risk Off board.
General Comments orValuable Insight
It's month end. Instruments tend to travel in the direction they've been moving all month.
Trade at technical levels.
Every instrument is an island unto itself.
We're looking at the buy levels in the Equity Indices for a short term bounce only!!
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.
For Glossary of terms and abbreviations click here.