March 5, 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...
IYT...134.58 is resistance and the upside closing pivot.
QCOM...sustained price action and a close over 76.75 is needed for a move to 83.
DIS...81.59 will be pivotal the rest of the week.
LNG...50.69 will be pivotal the rest of the week. Firm above with a tgt close to 57. A weekly close below 48.55 and it's retracement mode.
GS...gains upside momentum with a close over 170.50.
Nasd 100...3680 is today's hold on breaks level. A close below 3655 Friday is needed for a downside reversal and potential market top.
Spu's (H)...as long as the Spu's hold 1866 early, look for higher prices.
A close below 1837.50 Friday is needed for a downside reversal and potential market top.
Bonds..
30 yr. Bonds (H)...133.15 is mvg avg support and a key closing momentum level.
FX...
EUR/AUD....151.75 is moving avg support.
GBP/JPY...171.21 is the weekly closing upside pivot.
AUD/USD...all new closing strength over 90.10 is needed for the Aussie to lead on the crosses.
Commodities...
OIL..102.75-102.85 is old resistance that is now support. EIA petroleum report today.
Gold...1330-32 is daily support and the downside pivot. Below, look for the mid to high teens as a secondary support level.
Cattle...(LCJ)..146.20 is resistance and the upside closing pivot. 144.50 is support and the downside pivot. Whichever way it goes out of here, look for follow through.
Wheat...6.44 is the 200 day mvg avg. Closes over this level is needed for further upside.
General Comments or Valuable Insight
There is a full calendar the rest of the week.
Today...Follow the Bonds today, they'll be in play before the opening bell.
ADP @ 7:15 CDT just before the Chicago opening.
ISM @ 9:00 CDT
EIA @ 9:30 CDT
The Equity Indices and a myriad of single instruments are all showing the potential for weekly outside reversal patterns.
This mid week shuffle is going to be important for setting up direction going into the end of the qtr.
TLT can spike to 106.70 and hold.
TBT...resistance and the upside pivot is 70.25
Opening Range Time Frame Trading again today.
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 technicals.
We are positive Equities.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.