March 4, 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 ????????????? 107.15???????????? 109
Orders are "stop on close" unless stated otherwise
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Today's Working Orders
No working orders
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Stocks...
Nasd 100...3635 is the ball game for the risk on crowd.
Yesterday low was a retest of the monthly ORH pattern.
As long as this level holds there is limited downside.
GOOG...Held with matching yesterday's low in the NASDAQ Futures. Price action over 1225 is needed to rally further.
EWA...24.60 is the hold level for the Aussie market.
APH4...ASX 200 Futures held and look to retest the high as long as 5410 Holds. 5600 is the current target.
BHP...after putting in a negative weekly price pattern last week, this has followed through to the downside. BHP should have a bounce from the 66.90-66.50 level.
TSLA...is on it's way to a new all time high daily close today by holding 253 on a break today. The current buy stops are over 265 with a 275 first tgt.
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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.
Bonds could push as low as 133.30 and hold today.
Bund...145.33 should act as the upside pivot. 144.41 is first support.
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FX...
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).
102.00 is first Yen support (App 98.00 Futures)
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Commodities...
OIL..103.10-102.95 is? short term support and downside pivot.
Gold...1330-32 is daily support and the downside pivot. Below, look for the mid to high teens as a secondary support level.
General Comments or Valuable Insight
The drama looks to be over and we're back to a Risk On Board.
Options expiring on Friday were very active yesterday, and will continue to be in focus for the next few days.
This is where those wishing to get leverage for long exposure will look.
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/
For Glossary of terms and abbreviations click here.