March 3, 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 TLT ? ????????????????????????????????????????????????? 107.81 ????????????? 103.15???????????? 109
Long TLT???????????????????????????????????????????????????? 187.81?????????????? 107.15???????????? 109
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
Sell 1/2 your long TLT @ the market "on today's opening"
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We were stopped out of our remaining short Oil contracts in the first minute of the Globex opening last night.
Stocks...
Nasd 100...look for a test of 3635.
Spu's... staying under 1844-45 is price negative. 1815-18 is the first good buy zone.
NFLX...put in an ORL day. 440 then 432 is first support zones.
PCLN...put in an ORL day. This has the potential to move in 30 dollar increments to the downside.
GOOG...needs over 1225 to rally. 1193 is the first level for a possible bounce.
SPLK...needs a close back over 95.50 to repair this chart pattern.
IBM...186.84-187.60 is closing resistance.
GDX...26.17-30 needs to hold on pullbacks for higher.
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Bonds...
30 yr. Bonds (H)...135.25-136.08 is the big over hanging weekly resistance.
Sustained price action above 135.15 is needed to change the look of the long term charts.
Bund...145.33 should act as the upside pivot. Maintaining above this level can lead to a test of the 2013 high close to 146.50.
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FX...
EUR/AUD...154.20 becomes a big hold level for this cross. By holding above 154.00-20 on a closing basis, this has the potential for large move up.
USD/JPY...Buy stops are under 100.75 (Over 99.30 Futures). 100.20 is the 200 day mvg. avg. (app 99.80-90 in the futures).
USD/CAD ...109.50-80 is dollar support (Canada Resistance).
(Futures resistance starts @ 91.04-24)
Commodities...
OIL..Getting stopped out of the Oil short @ 103.15 will have me looking to re-sell @ 104.70-105.
Copper...has rolled to May (K). I'm still looking @ March(H). The (H) sell stops are below 31750. 2.95 is macro support and the closing downside pivot.
Natgas...needs price action over 4.85 and a close over 4.95 to start another rally.
Coffee...Closing over 182.50-183 can lead to more strength.
Wheat...6.40 is the tgt. Closes over 6.44 ( the 200 day mvg avg) would be needed for more up.
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General Comments or Valuable Insight
We were stopped out of our remaining short Oil contracts in the first minute of the Globex session opening last night.
The day will be headline driven. He said she said with "Vlad the Impaler" calling the shots.
We saw the cracks in the Bull late Friday with some of the high beta Tech names blowing off. That's when I bought more Bonds.
I didn't think they could negate the Indices pattern ( by putting in ORL days) with downside in the indices until after the close going into Monday.
Picking retrace lows for a longer term buy is not going to be an easy game.
1800 is still the macro pivot in the Spu's.
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 positive Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
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