May 9, 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
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No current holdings

Orders are "stop on close" unless stated otherwise
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Today's Working Orders

BUY QID (Double short Nasd) @ 60.20 Stop On Close!

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Stocks...

QID...price action and a close over 60.20 is needed for a up.

Nasd 100...will need to sustain under 3525 and close below 3505 to show it can break down for another test of the 200 DMA @ 3430.

Bonds...

10 yr. Bonds...125.12 is resistance.

TLT...needs price recovery and a close over 112 for higher. A close below 111.22 will see this going into a consolidation phase.

FX...

Euro...Euro is now at the other end of the recent range after putting in a topping ORL pattern yesterday. Closing under 137.75 (the weekly sell stops) will lead to more downside.

GBP/USD...the Pounds are seeing some selling in the past 1/2 hour. Price action below 168.50 should lead to 167.50.

Commodities...

Gold...has now hit support and resistance since Friday unemployment release. This needs below 1265 for a big break.

Brent Oil...acts better than WTI. 109 is 200 DMA resistance.

Oil...101.10-30 is near resistance.

General Comments orValuable Insight

Bonds, Equity Indices,Oil & precious metals all look like they need some consolidation before we see new direction.

Individual instruments like GS & PCLN continue to trade from support to resistance in a matter of hours and stop.

The daily equity trade has been two distinct capital flows with direction changing around 1:30-2 CDT.

Just be aware of the general time that directional trades get unwound and the lemmings just running in the other direction

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.

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