May 13, 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
No current positions.
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Today's Working Orders
No working orders.
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Stocks...
Spu's...a couple of closes over 2120, where the resting pattern buy stops are, is needed to re kindle a feeding frenzy in equities.
VIX...I'll look to give this another go in the mid to low 12's via a long UVXY.
ICPT,RCPT, AGIO & GILD were star performers yesterday.
Nasd 100...4450 is today's resistance and upside momentum #.
Bonds ...
Bunds...155.74 is the key feature. It's a qtrly #.
154.17 is thee 200 DMA. 154.66 is today's low risk sell level.
FBTPM5...Italian 10's are @ 135.44 short term momentum resistance. Price action and a close back below 134.28 ( 200 DMA) is needed to confirm this high.
30 yr....155.15 is resistance and the upside pivot.
FX...
GBP/USD...156.20 is the 200 DMA. This will we pivotal. Good Above/Negative below
AUD/JPY...95.55 is the 200 DMA. Sustained and closing price action over 96.00 is needed for higher. 94.80 is support.
DXE...a weekly close under 94.00 will be the start of a much bigger correction in the dollar.
EUR/AUD...needs to hold 139.78 and close above 140 for pattern integrity.
AUD/NZD...109, hit last night, is weekly resistance. 107.12 is the 200 DMA.
Commodities...
Oil...put in a mid-week high last week and broke to nowhere. WTI couldn't even retest the 21 DMA @ 57.50.
Have to admit I was convinced early last week WTI was headed for a retest of the 69 level, only to think Wednesday that there was a chance to see 55, where I'd like to get long.
Ice Brent expires Thursday with CME WTI next Tuesday.
Don't fight the tape. There are just as many fundamental shorts as there are longs.
Think I'll wait this out to see who wins.
60.25 is first support.
General Comments or Valuable Insight
?Welcome to the mid-week shuffle.
Time to be patient to see how things shake out.
Yra wrote a great piece last night http://yragharris.com/2015/05/12/crooner/
Bond rallies in this environment have been supportive equity prices.
Just something to ponder if Mario wants to flex the ECB wallet and bid up European Bonds, money will flow into equities in the never ending search for yield.
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