July 28, 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

Entry Stop TGT

Long GLD 125 123.80 Stp Close

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Today's Working Orders

SELL GLD @ 123.80 Stp Close GTC

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Stocks...
DAX...closes under 9550 are needed for a bigger correction.

VIX...12.90-13.00 is 1st resistance, followed by 1360 the 200 DMA.

Bonds.

30 yr. Bonds...while Bonds put in an imperfect double top on the bar charts (just missing the previous high by a few ticks) the point & figure shows one.

Price action and a close under 137.22 is needed for confirmation of a high.

FX....

AUD/NZD...broke out last night over it's 200 DMA @ 108.80. 110.37 needs to be monitored for a trend change (the monthly ORH #)

Commodities...

Gold...strengthens over 1319. 1288 is 200 DMA support.

Oil...is caught between 101.25 support and 102.80 resistance.
It needs sustained price action one way or the other out of this area for a new signal.

General Comments or Valuable Insight

For those of you not reading the news, Goldman put out a press release late Friday looking for higher rates and a sideways to lower stock market over the short term.

Long term they are positive equities.

Given the massive amount of PAC money this firm doles out on a yearly basis to both parties, this should be taken seriously going into the mid week Fed meeting.

We'll be looking to start getting on some downside exposure in the 30 Yr. before Wednesday's Fed press release.

Comcast has had an outage in my area for most of yesterday into this A.M. I will do some more work a little later, however if you don't hear from me you'll know.

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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