July 31, 2015 - 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 Bill Davis, 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
GOGO? Long at $19.93
Premium collected - $.70
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Today's Working Orders
No working orders.
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Yesterday, the market paused after rallying from the 2,062.50 level.
Because the S & P 500 closed above the 2,101.62 confirming level, a continuation of the upmove to 2,125 would be expected.
The major concern is that the VIX is back to under the 12.50 level.? At some point, it should rally resulting in a pullback for the markets.
Here are the key levels for the markets.
Stocks...
?
VIX: ?
Minor level - 16.02
Major level - 15.63
Major level - 14.06
Minor level - 12.89
Major level - 12.50
Major level - 10.94
The VIX is back to the major 12.50 level.? This has been a major support level for a long time.
A bounce here would not be unexpected.
S & P 500 Cash Index: ?
Major level - 2,156.30
Minor level - 2,132.82
Major level - 2,125.00
Minor level - 2,101.60
Major level - 2,093.80
Minor level - 2,085.98
Minor level - 2,070.32
Major level - 2,062.50
Yesterday, the S & P closed at 2,108.63, so the objective becomes is to 2,125. ?
Nasd 100 (QQQ):? .
Major level - 115.63
Minor level - 113.28
Major level - 112.50
Minor level - 110.16
Major level - 109.38
Minor level - 107.03
Major level - 106.25
The QQQ is within 50 cents of the 112.50 objective.
TLT: ?
Major level - 125
Minor level - 122.66? *
Major level - 121.88
Minor level - 119.53? *
Major level - 118.75
Minor level - 117.96
Minor level - 116.41
Major level - 115.63
The TLT closed just under the 121.88 level yesterday.
GLD:
Major level - 112.50
Major level - 109.38
Minor level - 107.03
Major level - 106.25
Minor level - 105.46 *
Major level - 103.13
Minor level - 102.34 *
Major level - 100
The key level for the GLD is 103.13.? And the GLD is oversold and under the extreme bollinger band on the daily chart.
XLE:
Major level -? 75 ?
Minor level - 74.21
Minor level - 72.66
Major level - 71.88
Minor level - 71.09 *
Major level - 68.75
Minor level - 67.96 *
Major level - 65.63
XLE paused yesterday, after a two day rally.
I am still biased to a move up to around 75.
Watch list:
Bullish Stocks:? AMZN, PANW, BWLD, GD, MNST, NKE, SKX, DIS, CVS, RAI, NKE, V, SBUX, GIS
Bearish Stocks: BIDU, RL, MON, DDS, CVX, Z, CAT, EOG, DECK, XLE, LNG, UA, MON
Be sure to check earnings release dates.
