January 9, 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????????????????????? 520
SSO Long?????????????????? ? ? ?? ? 98 ????????????????????????? 99.80
These are stop on close orders.
...............................................................................................
Today's Working Orders
Buy?the?JJG?@ 43.55 Stop On Close. GTC
Sell?Yen Futures @?96.95?GTC
Buy?USD/JPY @?103.25??? GTC
Sell?Euro @?137.40?GTC
Good Till Canceled
........................................................................................................
Stocks...??
Spu's...closing 2 days higher on the year should set up another 40 point move to the upside.
?
Bonds...
Bunds...140.05 is resistance and the upside closing pivot.
?
FX...
USD/JPY...is currently caught in the middle. price action under 104.50 is needed to have chance to go to 103.25 and filling us on our sells. Maintaining over 104.50 (Under 95.70 Futures) tgt's 107 (app 93.75 Futures).
Euro...needs above 136.50 for any upside.
Commodities...
Grains...refuse to rally. We're only interested to buy an upside break out in the JJG. We are not looking to pick a bottom and are in no hurry to be involved.
General Comments orValuable Insight
The game is tomorrow morning going into the close.
I expect the equities to churn with more stock rotation on light volume ahead of tomorrow's employment release.
Will a break in the Equity Indices hold after the data release tomorrow and rally to close higher on the year?
Our technical model will not generate higher targets until we get a couple of closes higher on the year.
Every instrument should be analyzed as an island unto itself.
FYI...
Our resting orders don't have a snowballs chance in hell to get filled until after tomorrow's data release, if then.
You can't get filled unless the orders are resting. We've seen it before when the algorithms (HFT) run the markets 100 points in the currencies back and forth before your screen catches up.
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 have a Long Equity Bias. We'll be leaving our trailing stops as is.
Tomorrow we'll make a determination whether we go back to a full long weighting in equities with the same trailing stop.
2014 is going to require some patience. Trade on your own terms with defined risk or leave it alone.
For Glossary of terms and abbreviations click here.