June 26, 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
Short Euro??????????????? 136.31????????? 136.85 GTC????? 133.70
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Today's Working Orders
BUY Euro @ 133.75 OCO 136.85?? Stop GTC ( Good Until Canceled)
BUY USAU 136.31?? Stop GTC
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Stocks...
Spu's & Nasd 100...are doing an end of qtr dance. There is nothing to do but get into trouble.
VIX...is neutral on my work.
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Bonds...
30 Yr. Bonds...136.12-14 was resistance and is now support.
Macro pattern buy stops are 137.02.
Bund...146.81 was last months close in the Bund. As long as we maintain above this level look for more buying of the Bund vs. selling of the U.S. Ten yr. Bond on the spread.
FX...
USD/JPY...101.69 is the 200 DMA. The time frames on the cash and futures charts all set up differently. The Futures 200 DMA comes in around 98.55.
The longer time frame charts show closes under 100.80 (over 99.20 Futures) would be needed for a sustained move higher in the Yen.
Commodities...
Gold...1315.70 is the monthly ORH #. This is the hold # for Gold Bulls going into month end.
Silver...20.45 is the 200DMA, with 20.20 being first Fib support for this swing.
Cattle...is testing the Feb high @ 153.00. Cattle has had a pattern of squeezing up into the front month expiration, which is Monday, for the past year.
It will be time to re-evaluate the trade going into the new qtr.
It's now cheaper to buy a 1-1/2 pound lobster @ Dirk's than it is to buy a Prime hand cut Sirloin @ Paulina Market.
General Comments orValuable Insight
There is a July Natgas and June Gold Futures expiration today, coupled with an economic release @ 7:30 CDT which could effect the Gold.
If you're looking to do something today, day trade gopro's IPO along with everyone else.
Opening Range Time Frame Trading again today.
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Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical's.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.