January 8, 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
SHORT 4 JYAH Japanese Yen??????????? 84.35
LONG ORCL ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 43.45 ? ?????????? 42.90
LONG Line?????????????????????????????????????????????? 11.50????????????? 10.80 Close
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Today's Working Orders
No working orders.
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Stocks...
IBB & XLV...both have positive patterns.
Regardless of world events, this sector will be relatively insulated.
BIIB,CELG,ILMN & AGN all should be bought on any good retracement against this weeks low.
Nasd 100...4200 is Fib resistance for this swing.
Bonds ...
30 Yr. Futures...there are resting sell stops @ 146.28. 146.05 level should provide a bounce.
FX...
USD/JPY...the Yen is finally getting some help via the crosses.
A close over 119.70 (under 83.49 Futures the 2014 close) is needed to get another swing down.
AUD/USD...shows a possible double bottom on the point & figure chart just above 80.00. A close above 82.30 is needed to confirm the low.
For this to materialize you'll need some help from AUD/JPY closing above 97.18.
EUR/AUD...145.48 200 DMA, with 145.21 closing downside momentum.
EUR/JPY.... 140.31 200 DMA...keep your Eye on these levels for they can prove to be short term bear traps for "Euro Bears".
Closing above 141.70 in EUR/JPY the Long USD/JPY side of the cross will wear the big boy pants to lead Dollar strength in the straight Dollars.
Commodities...
WTI...oversold pig. Price action and a close over 50 resistance is needed to elect a short covering to as high as 51.71.
Brent...52.66 is first resistance.
General Comments or Valuable Insight
Spu's & Nasd 100 have fulfilled my downside objectives.
I would need to see a close below 4100 in the Nasd 100 to see further downside.
I'm of the opinion that a Friday break on unemployment will be shrugged off.
With the Oil in rally mode, all the beaten up energy names will be on fire today.
Follow the Bonds today...More weakness keeps the turbo chargers on the ascent to the Dollar.
?XLV
IBB
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.