July 15, 2013 - 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

Entry?????????? Stop?????????? Targets

Long SX ? ? ? ? ? ? ? ? ?12.62 ? ? ? ? ??12.50 close ? ? ? ?15

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Stocks..

QQQ...76.05 is a level that can reject the first time up. The longer term upside tgt is 82?as long as 72 holds on breaks.

Bonds...

30 yr....135.00 remains resistance and the upside pivot.

FX...

Euro...needs a close under 129.80 for lower.

AUD/USD...91.75 is closing resistance. This currency is extremely oversold. Do not sell weakness. Use 91.10 as your near term pivot.

AUD/JPY...as long as this cross remains above 90.00 the Aussie will be firm against the Yen.?The Yen is leading this cross today..

USD/JPY...98.75 is Yen resistance. Closing over 101.30 ( under 98.70 Futures) is needed?to start another leg down in the Yen, up in the Dollar.

CAD/JPY...breaks out with a close over 96.20.

Commodities...

Oil...106.50 (August) WTI is proving to be good resistance. Price action under 104.20 is needed for a good break.

Brent Crude...(Sept) 108.40 is resistance.
?
Silver... 20.35? is resistance,19.40 is support.

Gold... 1283 is pivotal. 1277 needs to hold if we're headed higher.?

Soybeans...we led off and bought a 25% position in the Futures Friday.
We're using a 12.50 Stop On Close....

For weeks we've been targeting last Friday as a day to focus on the Soybeans.
We wanted to nibble at a good technical level knowing a bottom can take a few days to materialize.

We're waiting for confirmation that this indeed can bottom. In the meantime we'll just?keep it small and wait to see how the market trades before we do anything.

We were not filled on our Buy orders in the commodity Etf's Moo or JJG.
Cancel the resting Buy orders in these two ETF's.

General Comments or Valuable Insight

135.00 remains the pivot in the 30 yr. Bonds. Good above and bad below. It's been a big level for weeks and it will remain that way.

Above that level expect to see the upside in the metals gain steam.

The Yen crosses are the feature today. As long as they hold last nights lows they
look set for higher again. Look to buy breaks.

Short Term View...

The melt up continues in the Equities. The market is trading just like it did in the first qtr.?with an overbought grind up.

Trade where you can define your risk. It's summertime and the best trade location
continues to be in Asia.

For Glossary of terms and abbreviations click here.

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