March 6, 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...3722 is today's micro 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, look for higher prices.
A close below 1837.50 Friday is needed for a downside reversal and potential market top.
Nikkei...? 15,240 was the old break down level, now short term resistance.? A close over 15,500 confirms a move higher into the end of the qtr.
Bonds...
30 yr. Bonds (H)...133.15 is mvg avg support and a key closing momentum level.
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FX...
EUR/AUD....151.60 is moving avg support. Sell stops are below 151.82, the weekly ORL#.
GBP/JPY...171.21 is the weekly closing upside pivot.
AUD/USD...90.51 is the weekly ORH#. This is where the rubber meets the road Friday morning.
USD/JPY...103.00 (97.10 Futures) + app 10 ticks has been the qtrly pivot.
AUD/JPY...has completed it's wave count for this wiggle up @ just over 93.00. The weekly buy stops have been elected.
A close tomorrow over 92.85 is needed for an ORH week.
This would be another risk on pattern matching the Spu's,Nasd et.al.
Commodities...
OIL...has come close to completing the whole swing I was looking for last week, unfortunately without me. There could be one more wiggle down to test just below the 200 day mvg avg @ 100.12.
Coffee...put in an ORH day yesterday after some violent price action.
It showed an ORL before trapping the shorts and rallying huge.
20353-70 is the 50% fib for the past 3 years. This is a better exit zone than an area to initiate a new trade. Price action here will dictate the next move.
Cattle...(LCJ) 142.65 is mvg avg and Fib support. This level will be pivotal for the next move.
General Comments or Valuable Insight
March 31st is year end in Japan, which will bring the Yen and the Nikkei back into focus.
GBP/JPY looks to be the lowest risk way to participate in a Yen short, with the most upside potential.
The rest of the day should be run by the stock pickers.
The single instruments were the game yesterday and should be today.
The Spu's are up 34 points on the year, and the Nasd 100 147 points, all? of which you got in 36 hours.
The equity Indices ground around all day yesterday and look to do the same today. ( Stock Pickers Paradise).
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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