May 19, 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

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No current positions.

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Today's Working Orders

No working orders.

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Stocks...

Spu's...only come under pressure with price action below 2112, Monday's London Low.

DAX...11,852 is mvg avg resistance. Closes over 12,000 starts a new leg up.

HEDJ...66.20 is the matching #.

Spu's,Nasd 100 & QLD put in ORH days.

MYL...needs over 72 close for an upside breakout.

CBI...has ripped. Closes over 64 is needed to challenge 77. The trade is maturing after a 2 day 15% romp. Put this on a "buy if it ever breaks list".

LNG...put in an ORH day after retesting it's 200 DMA on the downside, this gains upside momentum over 77.50. Opening range trade candidate.

HACK...put in an ORH day. This is positive over 29.80. Opening range trade candidate.

MELI...put in an ORH day. As long as this stays over 145.40 it goes higher. Opening range trade candidate.

UA...is another name I like. This has had a pretty good sell off and remains firm over 76.00 close.

Bonds ...

30 yr..152.20 is support and the weekly downside momentum #.

TBT...remains firm over 48.70, the 200 DMA.
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FX...

EURO...anything into 111.50 is a cover zone/ not a zone to initiate a new short the first time in. Sustained price action and a close under that level should lead to a test of the 110 level.

DXE...starts retrace resistance @ 95.40.

Commodities...

Gold....needs to hold 1219 on any break.

NATGAS...still looking for the 3.29 level.

General Comments or Valuable Insight

?LNG,HACK & MELI are all candidates for an opening range trade today.

We'll have to see if they gap and go, or do a retest back into their reversal bars, hold and then go. Pay attention to these on the opening.

There were a lot of ORH patterns yesterday. I've focused on a few I think have some upside follow through potential.

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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