May 27, 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...
Equity Indices did not get quite low enough yesterday.
TSLA...247.45 is support and the downside momentum #.
Closer to 230 would be a better place to initiate a new long.
ACT...show me something under 297, the 50 DMA, to be concerned with any meaningful profit taking.
Bonds ...
10 Yr. Bonds...127.10 is the 200 DMA. This is support and the downside pivot.
Trade the level. Good above/negative below.
127.30 is momentum resistance.
Bunds...154.93 is resistance and the closing upside pivot. Above there is room for another 100 points to the lowest risk sell level.
FX...
USD/JPY...Yen is trying to elect the 2007 stops above 124.25 USD/JPY.
DXY...the dollar Index is coming into the .618 Fib resistance @ 97.53. Once convincingly closing through, has higher targets
Commodities...
OIL...needs sustained price action above 60.85 resistance to rally and under 59 support to break.
Copper...(K) May expires
Natgas...(M)June expires
Gold...1183.00 is the pivot for the yellow metal. Below, look for an initial $40 move.
General Comments or Valuable Insight
Let the opening range trade today be your early guide.
Caution should be exercised selling weakness into the stop zone in the Yen, as this can always be a near term bear trap.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.