January 6, 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…

SPU’s…2012 was the lower end of our support zone. Sustaining above 2025-8 will keep the Equity Indices bid into mid week.

Closing below 2010 would have me looking for another 40 points down in this Index.

DAX...9550 will be pivotal again today. This is where the 200 & 50 DMA Cross.

 

Bonds
No change…No place else to go with the money. Trade the levels given.

 

FX…

USD/JPY…there is no upside to the Yen unless there is a close under 118.60 ( over 84.30 Futures), last night’s Dollar Low.

AUD/JPY…97.40 is resistance and the upside closing momentum #. 96.45 ( 200 DMA)

held the first time down. Closing below this level will lead to a test of 95.45.

GBP/USD…is breaking down on a semi-annual chart. The next set of macro sell stops rest @ 148.13.

 

Commodities…

GOLD…remains bid against the European currencies. There is room for a move to 1235 as long as it remains above 1203.

 

General Comments or Valuable Insight

EUR/JPY & GBP/JPY? remain the feature in the crosses.

140.40 in EUR/JPY is a level to look for a first bounce in this cross.

 

The RSI’s in the Oil & Continental Currencies are very low (oversold). This just means you have to be careful where you initiate new shorts and be wary of new lows which could start short covering.?

 

 

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.