July 26, 2013 - MDT Pro Tips AM

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?????????? Targets

Long EWZ ???????????????????????? 44.76 ???????? 43.76 ?????? 47.50
Long Line (Sept 28 Calls)???? 1.30

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Stocks..

BRKA...17,615 is resistance and the upside breakout for Berkshire.

Nikkei...13,940 is support

Spu's...there is a potential head & shoulders topping patten on the point & figure chart, with the right shoulder?having been put in last night with the 1689 print. Sustained price action today?below 1677 would see many market participants taking money off the table.

DAX...8173 is first mvg avg. support with 8130 first fib support.

Bonds...

Bunds...142.13 is support and the downside pivot.

FX...

Euro...133.40 is resistance and the only place to try a short with 25 point stop.
Closing over this level will lead to another 300 point swing up minimum.

USD/NZD..KIWI...81.50-80 is resistance and a retest of last Qtr's ORL .
This is a significant level. Look for price rejection the first time up.

USD/JPY...98.27 (App 101.76) is 1st daily resistance in the Yen. 97.65 is first fib support?( app 102.40 Futures)

AUD/USD...buy stops are still 93.25. We've tried this level 5 times to no avail.
Do not fade above.

Commodities...

Gold...needs over 1340 for higher.

Oil...is putting in a flag formation on the point & Figure charts which just means
it's not going to stay in the range of the past 2 days. The downside breakout is 104.00.

General Comments or Valuable Insight

This is no small thing with the Outside Reversals in the Dollar yesterday.
EURO,YEN,GBP,Suisse

The most amazing aspect of the board has been the fact that Spain (EWP) has
preformed so well with it up 6.5% so far this week.

Investors are value shopping worldwide.

Every instrument is trading in it's own world with heavy stock rotation happening on a daily?basis, making the board extremely difficult to read.

Short Term View...

Trade instruments off their own technical s

For Glossary of terms and abbreviations click here.

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