July 23, 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.

No Positions

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Stocks..

NFLX...237-238 is short term support the first time down. 270 was the high monthly close. NFLX needs to close over this level to confirm another leg up.

Bonds...

TBT...72.43 is the qtrly close. Like the 30 Yr. @ 135.27, this is the only level short to intermediate traders should be focusing on.

They are both "go or no go" levels.

FX...

Euro...132.30 is weekly resistance. Euro bears should use this level for Risk management.?Under 131.50 this could go back to 130.90.

EUR/CHF...a close over 124 would be an upside break out in this cross.?This would signal that the Suisse would be a better short than the Euro.

Commodities...

Oil...105.76 is first support.? 106.90 is first resistance. Short term traders should sell crude on a rally back to 108.70 that level with a tight stop.

Gold...1318-20 is support. 1309 becomes the key hold level. This is the same type of # as last weeks 1267.

General Comments or Valuable Insight

The grind up in Equities continues with the tech stocks that have sold off on earnings being bought back up over the following trading days.

Oil is trading showing signs of weakness which we see as a much needed bounce in the WTI/Brent spread. This spread would have to retest parity to see the oil at 108.70.

This is a very low risk level to attempt a short with a 30 cent closing stop.

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.

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