March 18, 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
LONG USO 3/27/15 16 PUT???????????????? .47
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Today's Working Orders
BUY AUD/NZD @ 99.95?
SELL USO 3/27/15 16 Puts on any print below $40/bbl at the Market!
Stocks...
ZIOP...By holding above 13 I'm looking for this to go to 15.60 and then 18.
MSFT...put in an ORH day. Sustained price action and a close over 42 should see MSFT move in 50 cent increments to the upside with 43 becoming the next major resistance and momentum level.
PANW...remains firm over 141.40. As Long as this level holds on a closing basis i'd look for this name to rally into the end of the qtr.
JIVE...is coiling for a move. A sustained break above 5.10 should see this rally 10%.
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Bonds ...
Bonds...(M) support is 159.23. Resistance, this has the potential to squeeze up to 163.15 (50 DMA)
FX...
EURO...price action above 106.50? resistance turns the P&F up. Shorts...all you can do is use a trailing stop and let the market take you out.
EUR/GBP...gains upside momentum by sustaining and closing over 72.50 resistance.
GBP/JPY...is trading below it's 200 DMA @ 178.09. 177 is weekly mvg avg support level that can bounce.
Commodities...
OIL... is getting oversold on all time frames, then again the Euro has traded that way for the past 10 cents.
As long as the June contract remains below 44.37 ish I'll stay with the USO trade.
(K) is front month.
Caution needs to be exercised at yesterday's low of 42.85 for a bounce.
Brent...sustained price action back over 53.40 could elicit some short covering. Closing under 52.50 should lead to another run toward the Jan low of 45.19.
General Comments or Valuable Insight
When Yra writes, no one better sums up the fundamental landscape.
He's laid out a road map for today that is well worth the read.? http://yragharris.com/2015/03/17/patience/
As for me, I'm just a pragmatic technician who has no intention of playing a high stakes game of parse the Fed or Beat the Bots.
The Oil and Biotech has been vaccinated from the Fed. I'll keep my focus on markets that have had their booster shots.
There will be plenty of opportunity over the next couple of weeks without dropping a bundle today in the currencies, Bonds or metals.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.