March 17, 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
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working orders.
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Stocks...?
Nasd 100...(H).... 3595-3605 is the cover zone for shorts, right into the 50 day mvg avg support zone. Buy stops are @ 3661 with 3675 first resistance.
Spu's...(H) currently need over 1853.00 for a recovery.
Spu/Bonds... are currently trading at the 50 day mvg avg resistance and today's ORH#
DAX...8825 is the cover zone.
PCLN...1240-50 is support.
GOOG...1172 is mvg avg support. Price recovery above 1200 is needed for a convincing low.
NFLX...sustained price action under 424 would lead to a test of the first yearly Fib support @ 404.
IBB...trade this against the weekly close. With a higher open, investors can buy it against Friday's low of 251.79. This level will act as the downside pivot for a test of 233.
XLV...support is in the mid 57's
AMZN...has been out performing the Indices. 372-4 will be pivotal going forward. Holding above this area will get investors buying. Below, you should see new selling.
LNG...52 is closing resistance.
CXO...Put in an ORH day Friday. A close over 119 confirms the pattern.
DIS...shows the same pattern as the Spu's. A close over 81.70 is needed to avoid lower retests. I'd look to buy this in the low 70's with a risk off board.
Bonds....
30 Yr. Bonds (H)....135.15 is resistance and a potential double top with the macro Buy stops @ 136.08
Bund...(M) needs over 143.80 to trade 144.40
FX...
USD/JPY...is going to struggle to get through 101.20 (app 98.80 Futures)
AUD/JPY...91.85 is the pivot. Good above/negative below.
Commodities...
Wheat...6.90 will act as resistance and the upside pivot. 6.65 is first support. A failure here would lead to another 20 cent sell off.
Soybeans...13.70-76 is the key closing pivot level for a 30 cent swing either way.
General Comments orValuable Insight
Spu's, Nasd 100, & Spu/Bonds rallied off technical tgt levels identified last Thursday.
They have all had pretty nice rallies since Asia's opening off those levels to today's ORH levels as I write.
Be patient and trade @ the levels and not in between. Early NYSE price action should be very telling for the rest of the day.
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.
We've included our medium term view from the beginning of the year so you can get a sense of what's happened and where the markets are now.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.