March 18, 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...
Spu/Bonds...have two negative patterns that followed through to the downside, followed by yesterday's positive formation which is now retesting the breakout.
Be very patient to let the board play out today.
Bonds...
30 Yr. Bonds (H)....135.15 is resistance and a potential double top with the macro Buy stops @ 136.08
?
FX...
USD/JPY...is going to struggle to get through 101.20 (app 98.80 Futures). This is today's OR level along with the commensurate stops.
If elected, look for a test of the 200 day @ 100.37 (99.63 Futures).
The Equity Market has to go Risk Off to see this level. Yen traders who've been waiting to sell can try it here with a tight stop to see how much of a reaction you get.
AUD/JPY...91.85 is the pivot. Good above/negative below.
EUR/JPY...140.66 is the 50 day mvg avg and today's ORL # with stops below. I would not be in a hurry to fade this price action.
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. 14.12-14 is resistance. Closing over this level can lead to a test of the recent highs.
Corn...4.87.90 is resistance and the upside pivot. Maintaining and closing above the pivot should lead to another 15 cents.
JJG...48.60 is resistance and the upside pivot. Once above, 50 is the first tgt.
General Comments orValuable Insight
Yesterday was just one more day where instruments ripped from support to resistance in a very short time and then stopped.
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.
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.
