March 5, 2015 - 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 EFA 66 3/06/15 Call ? ? ? ? ? ? ? ? .13
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Today's Working Orders
SELL 30 EFA 3/06/15 66 Calls...when EFA prints 66.
BUY GOOGL? @ 554
BUY? AUD/NZD @ 99.95?
Stocks...
AVGO...put in an ORH day. If this holds early and starts up it can go.
Opening range trading 101.
RCPT...put in an ORH day. If this holds early and starts up it can go.
Opening range trading 101.
PCYC...the wave count is close to 290. ABB beat out a J&J offer last night to pay 21 Bil. It's up another 8% in pre-market
ZIOP...momentum players could push this to the next wave count around 15.50.
You just have to see where this holds on breaks.
BCRX...put in an ORH day. It needs to sustain over 10.60 momentum for another run up.
UNH...for those of you who can't handle the 10% days, if this holds early and starts up it can go. Opening range trading 101.
SWKS...If this holds early and starts up it can go. The next target is 93.50
Opening range trading 101.
GPOR...Gulfport has been going sideways for a bit. By maintaining above 46 this looks to be en route to it's 200 DMA @ 51.45.
LNG...yesterday's low @ 77.75 was a momentum hold. 76.25 would be a lower risk buy. Keep it simple, if the board goes risk on after the ECB this is another opening range candidate.
NOV & APA...are both putting in bottoming action. An OIL low will see these two preform well.
DAX...11,275 is today's momentum hold level.
Bonds ...
30 Yr. Bonds... I'm now of the opinion that the June 30 will eventually trade down to the 153-154 over the next few weeks.
161.10 is a descent resistance level for today in the June Contract.
FX...
EURO...112.50 is resistance and the upside momentum #
Commodities...
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OIL...the pattern is friendly. Sustained price action under 49.70 is needed for weakness.
Point & Figure shows buy stops above 52.50 resistance would target the 54 level again.
Brent... is neutral. It weakens under 60.15.
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General Comments or Valuable Insight
There are a lot of Biotech names to choose from. Biotech has nothing to do with the ECB. These are momentum names that live in their own world.
There is plenty of rotation within the healthcare names themselves.
Be aware your technicals.
ECB policy statement @ 6:45 CST
Press conference to follow @ 7:30
It will be a game of "Beat the Bots" early in the Currencies & Equity Futures.
Things should be sorted out by the time NYSE opens.
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For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
