March 10, 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
Long BAC 14 March 18 Call???????????????????????????????? .11
Long CAT 14 March 100 Call? ? ? ? ? ? ? ? ? ? ? ? ? ? ??? .20
Long QQQ 14 March 89 Put?????????????????????????????? ? .20
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
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Stocks...?
IBM...189.65 is weekly resistance. 187 is the 200 day mvg avg.( support). A close under 185.85 should lead to lower prices.
Spu's..1859 is the lowest risk buy level.
Nasd 100.. sustained price action under Friday's low of 3685 should lead to further profit taking.
Bonds...
30 yr. Bonds (H)...133.07 is the 200 day and 1st resistance. 132.06 is the 50 day mvg avg and 1st? support
Bunds (M)...need over 142.55 to rally. Support is 141.50.
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FX...
GBP/JPY...171.21 is support that has to hold.
AUD/USD...could probe as low as 90.03 and hold. 91.70 is resistance (the 200 day mvg avg.)
USD/JPY...needs close over 103.50 to see further Yen weakness (96.60 Futures)
AUD/JPY...92.85 is 1st support.
EURO...139.50 ish is the swing count tgt. 140.15 is possible.
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Commodities...
OIL...we got the test of the 200 day mvg avg @ 100.12. 102.70 is resistance and the upside closing pivot.
Oil seems caught between 100.74 & 103
Gold...needs under 1327 to do any downside damage.
General Comments orValuable Insight
John has a Risk On book that will coin money as long as the markets hang around this area.
Friday I bought some portfolio insurance with the QQQ Puts, knowing that John was traveling for business and not in front of a screen.
Yes, we've got your back.
It would have been nice to have taken some of those off last night when the index broke, alas those aren't available to trade 24 hours.
Right now the markets are dead in the water.
Next week will set up the next qtr of trading. Less is more this week.
We'll be looking to sell those Puts near the opening if we stick around here in the indices. I will watch it for another couple of hours and send out a trade alert.
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.
We are positive Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.
