July 17, 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?????????? Target

Long SX?????? 12.62 ? ? ? ?? 12.62 ????????? 15

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Stocks..

Spu's...have a potential double top @ 1680. A close under yesterday's low
would lead to a sell off.

Bonds...

30 yr....are still trying to break out to the upside. The first test should be 135.27-136.00.?As long as 134.20 holds the long awaited oversold rally seems to be materializing.

FX...

USD/JPY...98.75 is the major inflection level. ( App 101.26 in the Futures)
Weak below/Strong above.

EUR/JPY....2 support levels to look for bounces..129.60...then 128.40 on a monthly chart.?128.40 has to hold to keep the trend intact.

Commodities...

Soybeans...has a potential weekly double top @ 12.97. Raise the stop to break even (12.62).?This needs to hold breaks @ 12.73 the 200 day mvg avg.

Gold...as long as there is no 1267 print, this remains firm on the very long term Point & Figure chart.

Oil...sustaining under 105 is price negative leading to a test of 103.
By holding 105 a trip back up to 106.50-60 is possible.

General Comments or Valuable Insight

Today is an event trading day. 7:30 CDT will start the ball rolling with Bernanke's prepared statements.

It's the mid-Week shuffle and I am in the preservation of capital mode.

Short Term View...

Trade what is in front of you. Many instruments have shown signs of fatigue yesterday.

Those wishing to make a bet can still trade options on the S&P 500 Futures which expire Friday and 30 yr. Bond options expiring the 26th before before 7:30.

For Glossary of terms and abbreviations click here.

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