June 4, 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...?

MMM...141.50 close is support and the risk for new longs. Closing over 143.40 leads to more upside. A close below 141.00 is needed for a correction of a few percent.

Bonds...

Bunds (M)... 146.55 will be resistance and the upside pivot

FX...

EURO...136.47-61 is mvg avg resistance and the upside pivot

Commodities...

Grains...last night's lows in the Wheat and Corn look to be descent levels for a bounce.

JJG...46.70 is the 200 DMA and a low risk buy level.

OIL...103.45 is short term resistance. Price action above here is needed for an attempt at the low 104's.

Brent...109.60-80 is resistance.

General Comments orValuable Insight

The Equity Indices are treading water after this recent month end rally

awaiting the ECB tomorrow morning.

Managers that want more exposure should look to Germany & Spain later today.

We'll take a look later in the day for Calls in near strikes (48) for expiration June 6 or 13.

JJG looks to be the most attractive instrument to trade. It's had a good sell off with the Corn & Wheat being very oversold.

I'd rather just be long the ETF than play the options since the expiration's are for June 14 followed by July 14.

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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