March 26, 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
No Current Holdings
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
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Stocks...
DAX...needs closes over 9400 for higher. 9400 9380 is now support.
EWG...30.12 is a potential weekly double bottom. Closes over 31 are needed for higher.
Nasd 100...3655 is today's resistance and the daily upside pivot.
A close over 3694.50 is needed to start another rally.
EWW...64.69 is the 200 day mvg avg.
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Bonds...
30 yr. Bond (M)....132.26 is the 200 day mvg avg. This level will be pivotal. 133.16 is resistance. All new closing strength over 133.27 is needed for higher.
FX...
AUD/USD...91.38 is today's 200 day mvg avg ( 90.87 M Futures)
It's firm above.
Today... 92.60-80 is resistance (app 92.10 M Futures). Any print near 93.00 in the cash fulfills the swing count for this move.
EUR/AUD...150.85 is support, however once through look for 149.50.
If the Aussie can manage a rally from here, this is the cross that will lead.
Today...149.85 is the monthly ORL #. pay attention to price action back over this area, for it could signal a low in the cross.
Any print near 147.90 should be deemed an exit zone the first time down. This is the 200 day mvg avg. and the cross would be oversold at this level.
In other words, it's a good place to look for a bounce.
Mexican Peso...is approaching it's 200 day mvg avg. @ 13,055.
Currencies strength leads their respective Equity markets.
Simply put...if the peso gets anywhere near this level you should not be buying strength in the EWW.
Commodities...
Metals...Futures expiration s are tomorrow.
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General Comments orValuable Insight
Equity Indices, once again, held their respective yearly closes yesterday near the lows of the day.
Closing lower on the year in the Spu's & Nasd 100 would have me looking for lower levels.
GOOG, NFLX, IBB and some of the bigger momentum names all hit weekly support on yesterday's lows.
Those lows need to be breached for a bigger sell off.
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.
