July 19, 2013 - MDT Pro Tups 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.

No Positions

.....................................................................................................................

Stocks..

IBM...200 is monthly resistance matching the 200 & 50 day mvg avg's.?This is macro resistance requiring a couple of closes over this level for higher.

Nasd 100...the close below 3065.50 puts in an ORL day. 3023 is the first area of? support.

Spu's...need to close today below 1675 to begin showing signs of weakness.

GOOG...897 is the weekly ORL level ,this should prove to be good resistance the first time up. Failing to recover over 887 will keep pressure on tech.

Bonds...

30 yr...has to close over 135.27 for any upside. Trade the range.

FX...

CAD/JPY...96.20 is support.

Commodities...

OIL...pay attention to the WTI/Brent spread sent out yesterday. WTI could trade as high as?110.50 today while the spread is trying to trade parity in the spread.

September Crude is now front month

General Comments or Valuable Insight

7/8/13 update
Oil is an event driven trade off unrest in Egypt. We have higher levels from 2008 we eventually think we'll see trade around 116. The question is always when?

Brent Oil...we be key to understand how this is moving. WTI broke out to the upside on a qtrly chart at the beginning of July. The macro Buy stops in Brent remain @ 115.

Both instruments will stay firm into Monday.

Short Term View...

Summer time trading is here with thin bot driven trading. Many markets are extremely overbought.

Trade instruments off their own technical s

For Glossary of terms and abbreviations click here.

Legal Disclaimer

There is a very high degree of risk involved in trading. Past results are not indicative of future returns. MadHedgeFundTrader.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of MadHedgeFundTrader.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.