March 19, 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...
UA...has the potential to run another 20 dollars into month end as long as there is no close below 119.
AAPL...532-534.50 is resistance.
AMGN...127.42 is this years high and a potential double top level, however once through 132 is the next tgt.
YHOO...as long as this maintains above 38 I'm friendly. The weekly chart shows there is room to test 40.44, with much higher targets possible.
This is being used as a surrogate long to the Alibaba IPO.
DECK...by holding over 74.75, this has a chance at running to 77-79 again.
UNH...77.05 is support. Once above 78.15, this can rally another 5% to 83.
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Bonds...
30 Yr. Bonds (H)....135.15 is resistance and a potential double top with the macro Buy stops @ 136.08
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FX...
GBP/USD...165.60 is unchanged on the year. It keeps holding on breaks.
Closes under this level is needed to see pound weakness.
Sustained price action over 166.70 is needed to rally.
AUD/USD...sustained price action over 91.50 is needed for a good rally.
(app 91.10 Futures)
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...14.44-50 is resistance. I would need to see a couple of closes over this level for another move higher.
OIL...(K) is front month.
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General Comments orValuable Insight
Welcome to the mid-week shuffle. On tap this afternoon is the Fed.
The expectation is for a statement price positive equities.
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.