May 8, 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 workin orders.
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Stocks...
Spu's...I doubt it can get back into the 60's again. Only a close below yesterday's low changes the bigger pattern.
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Bonds ...
30 Yr. Bonds... 157.19 was last week's close (1st natural resistance) I'd need to see sustained price action over 158.00+ a few for much higher.
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FX...
GBP/JPY...put in an ORH day and took off on the news that Cameron was set for another 5 yrs in Downing Street pending the forming of a new coalition.
The cross needs to maintain above 185 to avoid profit taking.
GBP/USD...156.36 is the 200 DMA.
EUR/GBP....i'd need to see a close under 72.45 to think there is more to this move.
SFAM...Swiss Franc Futures...as long as they reject yesterday's close 108.66 after the data release you could see 107.55.
Suisse has been a laggard on news with all the Bots programed and focused on the Euro, it's possible to use Swiss franc as a surrogate for short term traders.
Commodities...
Gold...will be in play today as it is on every unemployment day. It would need upside follow through and a close over 1196 to go anywhere.
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General Comments or Valuable Insight
European Bourses seem to have bottomed with the ECB Bond buying yesterday.
Let the dust settle and look to individual equity names when New York opens, for it will be an easier trade.
The Bottoms put in early yesterday in the Equity Indices need to be violated for downside. As long as the first break holds in the Equity Indices look to the names.
It's been a long week and I'm fresh out of ideas.
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