July 15, 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

????????????????????????????????? ? ??????????? Entry???????????????? Stop?????????????? TGT

Long AAPL? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 94.15 ?????????????? 92.65 Stp????? Close? 99/110

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Today's Working Orders

SELL AAPL @ 92.65 Stop On Close "GTC"

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Stocks...

IWM...113.22 is support and the low risk buy zone this week.

Closes over 117.50 is needed to signal a new push higher.

Bonds...

30 yr. Bonds...136.17 is first support @ the 50 DMA

TLT...112.95 is near term support.

FX...

USD/JPY...101.93 (app 98.10 Futures) is the cash 200 DMA.

The all session Futures set up differently with support in the mid 98.30's.

GBP/USD...is attempting an ORH day with a close over 171.48.

GBP/JPY...is attempting the same formation? with a close over 174.02.

Commodities...

?Oil...looks to flush to the 200 DMA

Wheat...sustained price action over 5.50 is needed for a good rally.

Corn... a close over 4.00 is needed for this to start a rally.

Soybeans...have the most potential to rally.

JJG...41.20 is first resistance.

General Comments orValuable Insight

I'm still looking for signs of a bottom in the grains.

This will be a price action trade, meaning if they can hold after 9:30 CDT and start up, it will be a low risk long with a stop below the day's low.

Pay close attention to the Pit opening range.

In other words you could give it a go to see if it will hold and have a relief rally.

Grains are oversold. Do not get married to a long!

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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