March 12, 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
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working orders.
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Stocks...?
Spu's...(H) Put in an ORL day. 1st support is 1858. This either holds right away of look expect a test of 1849-51.
Nasd 100.. (H) price recovery back over 3689 is needed to avoid a test of the 3630's.
Dax ...is @ weekly mvg avg support 91.44. Macro sell stops are below 9010 which if elected could tgt 8700.
Nikkei..."NKDH4"...14,608 is the 200 day mvg avg & support.
VIX...1st resistance is @ 15.38, 2nd 16.60 +- a couple.
GS...168.30 ish is today's hold zone to prevent further profit taking.
TLT...put in an ORH day not confirmed by the 30 yr. Futures. 106.45 is the 200 day. A close over 106.55 will see this rally in 80 cent increments.
Bonds...
30 yr. Bonds (H)...Sustained price action over 133.04 is needed for another 20 ticks.
Bunds...142.65 is mvg avg resistance. Closing over this level leaves way for a potential 100 point rally. 144.40 is the eventual tgt with a risk off board.
Italian 10 Yr....could rally to 121.25, making a new high for the move.
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FX...
AUD/JPY...91.75-85 is support and a potential Bear trap for sellers of this cross.
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Commodities...
OIL...Upside resistance is 100.28 the 200 day. 101 is the lowest risk sell level. 98.25 is the next Fib support
Copper...(K) the macro sell stops are app 286-7 in the May contract.
Everybody is crowing about the Copper. Everybody is looking at the wrong chart. This is a very dangerous place to be short copper.
Gold...needs under 1327 to do any downside damage. 1360 is near term resistance. 1380 is weekly resistance.
Silver...21.17 is daily resistance. Closes over 21.55 are needed to gain upside momentum.
Platinum...put in an ORL day. 1477 needs to reject on a rally today to trust the pattern.
General Comments orValuable Insight
Index Futures are beginning to force roll to June (M) by your quote providers..Make sure you know what you're trading!
Spreads differ as to instrument.
The Midcap and the Russell look worse than the broader market.
Today should be another 2 way trade with the rallies all met by willing sellers.
It's Mid-week so you're also going to see buying coming in at technical levels to try and rally the market and negate yesterdays bearish chart pattern.
By the price action it's clear that there are lots of investors in the Soros camp that believe the market is overvalued and in need of a break.
You're seeing the disparate capital flows during the day. London one way and the U.S. the opposite late.
This latest market move happened within the past 2 hours out of London.
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 neutral Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
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