May 12, 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
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No current holdings

Orders are "stop on close" unless stated otherwise
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Today's Working Orders

No Working Orders

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Stocks...

KRU...the regional banks look to have bottomed. 82.50 is pivotal. price action over this level could lead to a test of 86.

IWM...110.75 is 200 DMA resistance and the upside pivot.

GOOG ...put in an ORH day. GOOGL...just missed.

TSLA...Put in an ORL week. 176.40 is 200 DMA support.

Use 176.40 as a near term pivot. TSLA can hold right here and have a retest rally back to 195-7.

FEYE... is getting very oversold. Day traders should keep an eye on this. It has the potential for quick a 10% rebound. If this starts higher on the week I would not fade the price action.

Bonds...

10 yr. Bonds...125.12 is resistance.

TBT...price action over 64.40 can lead to 65.65 resistance

FX...

Euro...138.20-30 is resistance.

Commodities...

Silver...19.60 is closing resistance.

Gold...a close today over 1295 puts in an ORH day. 1,300-01 is Mvg avg resistance, and the low risk sell level the first time up.

Gold needs to reject this level and close below 1294 to remain on the defensive.

Copper...31860 is resistance. The chart patten look s good , however I wouldn't buy strength in here.

Oil...101.10-30 is near resistance. price action under 99.70 is needed to start another sell off.

General Comments orValuable Insight

I'm not picking highs in the Indices today. Trade the individual names.

Dax is strong this A.M. and a retest of 9800 ( the yearly high) is possible.

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 technical's.

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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