March 10, 2015 - 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 open positions
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Today's Working Orders
BUY? AUD/NZD @ 99.95?
BUY GOOGL @ 561?
Stocks...
ZIOP...this name can run. The 10+% break followed by the 15% rally off the low ( all in a few hours) can lead to much higher prices. This has doubled since I first bought it.
Names like this can go exponential. Look for this to go to 18 next.
BLUE...Bluebird Bio is another name that has been putting in higher lows and then runs.
As long as this keeps closing higher on the week, it has a chance to run another 15%.
RCPT.. Put in an ORH day. This has to stay above 140 for pattern integrity. Momentum can build with sustained price action over 143.25.
BIOC...remains bid over 3.00 which is the 50% of the recent swing.
The IPO opened @ 10 and imploded.
This is the worst pattern of the lot and has to hold 3 dollars to form up for another run higher.
ALERE & VALEANT...both put in ORH days. Look for follow through, If these start up.
Bonds ...
BUNDS...stopping points (M) 157.40 followed by 158.00 on the way to an eventual 159.00 print.
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FX...
EURO...it didn't take much of a breather. 108.65 is point & figure resistance. 102 is an eventual target.
USD/JPY...last years dollar high was 121.85 ( 82.07 H Futures).
Exercise care when an instrument retests a yearly level for directional traps the first time in.?
Commodities...
OIL...rolls over below 48.80.
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General Comments or Valuable Insight
Spu's can hold between 2057-61 for a bounce. Closing under this level will lead to more "Risk off".
Biotech is holding up the Nasd which looks vulnerable to between a 50-100 point break.
A few of the Biotech names are worth keeping an eye on.
I'll still try GOOGL @ the 200 DMA with a very tight stop.
We've seen new lows for this down move overnight. For Index bottoming action, sustained price action above yesterday's Globex lows is required.
The overnight dollar strength should equate to a rough start for the U.S. multinationals.
I've enclosed a few of the best patterns in Biotech. These are momentum names which have been ignoring price action in the broader indices.
Some I've traded and some just have upside possibilities.?
ZIOPHARM ONCOLOGY
VALEANT
BIOCEPT
ALERE
RECEPTOS
BLUEBIRD BIO
INTERON
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For Glossary of terms and abbreviations click here.
