June 3, 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
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No current positions

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Today's Working Orders

No working orders

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Stocks...

MVV...(Midcap 400) is the index with a potentially bullish pattern. It will be important to see if this holds up today into Thursday A.M. to see if it is indeed the start of another leg up.

Bonds...

10 yr. Bonds (M)... 200 DMA support is 125.11. Any prints into 125.07 would be too far the first time down and a low risk buy zone.

TBT...62.70 is the first tgt level.

TLT... 112.60 is 2nd support and the downside closing pivot.

FX...

EUR/AUD...needs over 147.50 for upside.

Commodities...

Gold...it will take price action over 1250 to run out weak shorts and a close 1260 to turn up short term.

Anything prints in the low 1220's should be a first partial profit cover zone for shorts.

Gold is very oversold. It will either have to try and rally or go sideways to alleviate the condition.

JJG...46.70 is the 200 DMA and a low risk buy level. This instrument is oversold and worth a nibble as the level also matches 1/2 way back for the yearly range.

OIL...has to sustain over 102.10 on the point & figure charts to avoid a deeper correction.

General Comments orValuable Insight

The U.S. Treasuries are where the action is.

Nikkei has hit it's first tgt level with the European rally seemingly on hold into Thursday A.M.'s Central Bank releases.

Opening Range Time Frame Trading again today.

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.

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