June 5, 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
No current positions
.......................................................................................
Today's Working Orders
These orders are for those at the screen, able to manage an order.
This is not recommended for the retail investor!!
Sell Euro @ 137.60
BUY Euro @ 133.70
If either order gets elected you're to place an order to exit half the position on a 70 tick reaction off the level.
I.E. if you sell @ 137.60 immediately place an order to buy 1/2 @ 136.90.
I.E. if you buy @ 133.70 immediately place an order to sell @ 1/2 134.40.
?These are time orders that should be canceled @ 8:00 A.M. CDT if not filled!!
.......................................................................................
Stocks...?
Spu/Bonds...rallied all the way back to test the April 4 breakdown level almost to the tick, making today's ECB and tomorrow's employment data all the more interesting.
This is the level that the Spu's corrected 80 points and the Nasd 100 almost 250 points from. Caution is advised. It is a significant inflection point, particularly after a big one way 5 day move.
This level now becomes pivotal for another swing up in Equity prices and down in Bonds (up in yields) with the street now comfortably Long Equities and Short Bonds again.
LNG...starts to look attractive around 62 again.
AAPL...656-667 is resistance. This is not an area to buy into the first time up.
?
Bonds...
Bunds (U)... are now trading Sept. which are a 200 point discount to the June contract. 145.90 is first resistance.
30 yr. Bonds...the lowest risk sell zone the first time up is 137.15 June... "136.20 Sept. (U)"
TBT...the approximate matching bonce level is 61.50.
FX...
EURO...136.47-61 is mvg avg resistance and the upside pivot.
I've got 2 macro levels I'm willing to trade at on the announcement this A.M.
If either order gets elected it will be on a flash move driven by the bots.
They're lotto orders.
If either one gets filled I would expect an equally quick 60-80 ticks to take off half the trade and leave a breakeven stop on the rest.
Sell @ 137.60
BUY @ 133.70
Caveat Emptor....retail guys...there is no way if either of these orders get elected that I can get out further instructions in a timely manner!!!
If you're not a comfortable day trader that can manage an order after a spike,?Please leave this one alone!
Stops will be sent out only after the fact.
Commodities...
JJG...46.70 is the 200 DMA and a low risk buy level.
OIL...102.10 in the WTI seems to match up with 108 in the Brent for first support.
Brent...put in an ORL day. 107.50 is weekly support .
Brent /WTI Oil spread... the WTI should continue to trade firmer than the Brent.
General Comments orValuable Insight
The Bonds can bounce a point or more making the level in the spread an area I would prefer to see a couple of closes over to confirm another leg up in Equities.
The market is expecting an ease in Europe which should be positive the Bund and European Equities.
It remains to be seen how much is priced in and how the bots dissect the language of the statement.
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.