July 8, 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

Stocks..

Spu's...by maintaining higher on the week we're looking for this to move in 30 point increments with 1657 the next tgt level. 1636-42 is short term resistance and not an area to buy strength into the first time up.

Nasd 100...price action over 2973 is needed for higher. The macro buy stops are
resting just over 3004-07

Bonds...

30 yr. Bonds...133.04 will be pivotal for more upside. Above here look for a test of 134.

FBTP...the Italian 10's are sitting right on the 200 day mvg avg @ 110.90. By maintaining?above 112.40 is possible. Keep a weather eye on these when trading the Euro, since this can be reflective of market stresses within the Euro Zone.

Bunds...142.00-10 is closing resistance today.

Euro...monthly sell stops are 127.46 with yearly fib support @ 126.80.

EUR/JPY...129.17 is the qtrly close and the near term pivot. Trend breakdown occurs with a close under 128.50. This would signal a leg down in the Euro with the Euro leading dollar strength.
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AUD/USD... use 91.15-30 as resistance and your upside pivot.

AUD/JPY...92.49 is the 200 day mvg avg., which rejected big time. 90.48 is the qtrly close.?A close below 88.75 will be needed to confirm more weakness.

Commodities...
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Gold...1229-34 is resistance, Gold needs to close above 1234 to keep firm.
Silver...19.10 is resistance, this needs price recovery over this level for higher.
Oil...103.40-50 was the first tgt on this swing up. 102.15-20 is 1st daily support.

General Comments or Valuable Insight

OIL is an event driven trade off unrest in Egypt. Trade it one level at a time.

We think it's safer to keep buying breaks with tight stops than to try and pick a high.

GOLD/EURO...is sitting on 1st Fib support going back to 1996. This is a go or no go level.

Instruments such as the 30 Yr. Bonds and the British Pounds have put in new lows for this swing by a few ticks and reversed.

Many instruments will trade like this when they get oversold. Sell big rallies not breaks.

This type of price action will drive the short term flows.

Short Term View...

Whether you are trading Equities,Bonds FX or a Commodity it makes no difference, use 6/28/13 closes in everything as your short term pivots. Good above, negative below.

Time to be a technical trader and robotic ally trade the extremes. Forget the fundamentals.

Pay close attention to your time frames and ebbing capital flows.

For Glossary of terms and abbreviations click here.

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