July 17, 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
Long AAPL? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 94.15 ???????? 94.15 Stp Close??? 99/110
Long?GLD??? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?125 ? ? ??????? 124 ?Stp Close
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Today's Working Orders
SELL AAPL @ 94.15 Stop "GTC"
SELL?GLD ? @ 124 Stp Close GTC
Cancel this order:
Sell 30% of your Long AAPL shares @ 99.20 GTC
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Stocks...
GOOGL...584.50 mvg avg support needs to hold to avoid lower.
Spu's...1960-2 still needs to hold to avoid lower test of 1952.
Nasd 100...3890 is Point & Figure support.
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Bonds...
30 yr. Bonds...holding above 137.15 keeps these firm today.
FX...
Commodities...
Oil...101.40-60 is daily and weekly closing resistance. 103.25 is next resistance.
Gold...squeezing back above 1308-09 resistance should lead to a test of 1319.
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General Comments orValuable Insight
? After Druckenmiller spoke at the Delivering Alpha conference yesterday I thought we would see the sell off we got late day to start late morning.
Had I just let my stop work in the Vix I'd be all smiles this A.M.
The whole day was a Leon Cooperman Omega Fund rally. His fund must've been up 6-7% yesterday alone just on announcing his picks.
Everybody owns them now, HCA,NOV,SVU,TMO.
While the street chased his names, the Bots were front running the buy orders driving prices even higher and AAPL got sold.
The Apple ORL pattern is concerning. Weekly sell stops are @ 93.52.
We'll leave our stop at break-even in AAPL. Earnings come out on the 22nd, so we'll have time to get back in.
GOOGL earnings come out today after the close.
APPLE
GLD-SPDR Gold Trust
Gold
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
