May 19, 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
No current holdings
Orders are "stop on close" unless stated otherwise
.......................................................................................
Today's Working Orders
No Working Orders
.......................................................................................
Stocks...?
Nikkei...is putting in an ORl day. This is not a pattern I'd look to take given the current RSI's which show it's getting oversold on the daily chart.
Nasd 100...3590 will be pivotal. We're in Rally mode by maintaining above.
SPU's...could probe as low as 1851 and bounce.Weekly breakdown levels for a bigger sell off is a close below 1844.
?
Bonds...
30 yr. Bonds...136.20 is daily support. 136.27 is weekly mvg avg support.
10 yr. Bonds...125.10 is mvg avg support and the downside pivot.
Italian 10 yr....is caught between 122.95 & 124.50. there is no upside unless we close above 124.50.
Bunds...the resting buy stops are above the 2013 high of 147.20.
Friday's high was good enough for a short term high, 145.55 is the first good retest support level.
Gilts show a similar pattern as the Bund.
FX...
Euro...price action above 137.35 is needed to get a rally started.
138.10-30 is the low risk sell zone.
USD/JPY...has finally spiked the 200 DMA, something we've been waiting for months to happen.
Commodities...
Coffee...expires tomorrow. July is front month. 1.95 is near resistance.
Only closes over 2.00 will lead to a further rally.
Cotton...90.02 is the monthly ORL #. Short term it's oversold and ripe for a bounce, however a close over 92.20 is needed for some upside.
General Comments orValuable Insight
We were stopped out of our Long QQQ puts on the close Friday @ breakeven on the remainder of the position.
Crude Oil (WTI) June (M) expiration is Thursday. We'll look to get involved then.
I would encourage all readers to go back to the Medium Term view and review it.
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.
