November 10, 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
Long??JJG??????????????????????? ???????????????? ? ? 37.00 ? ??????? 36.80 ? ????????????? 42
Long??Ford (F)???????????????????????????????????? 14.19???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ??
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Today's Working Orders
No working orders.
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Stocks...
Spu's...need a close under 2020 to see profit taking hit the Equity Indices in the U.S.
Nikkei...needs to hold above 16,700 to not go into profit taking mode. Profit taking mode would give a bid to the Yen.
DAX...91.83 is today's support. Closing below 91.60 is needed for more downside.
IWM...remains firm over 115.80. By remaining over 115.80, look for a test of 120.50.
DIS...Friday's low of 88.65 is the level to trade against. Buy on any weakness against this level. With the Holiday's upon us, this is a name to pick up.
GDXJ...went from being oversold to rallying 12% right into resistance in one day.
Closing price action over 26.66 is needed for this not to be another 1 day wonder.
GDX...needs closes over 19.50 resistance to sustain a rally.
Bonds ...
30 Yr. Futures... Put in an ORH day Friday. 141.02-04 will is support.
142.10 is resistance and the closing upside pivot.
10 Yr. Bonds...127.05 is resistance and the closing upside pivot.
BUND...remains firm above 151.37.
TBT...sustained price action under 52.25 could lead to a test of 51.00.
FX...
AUD/USD...Put in an ORH day Friday. 86.80 resistance has to be overcome to believe the pattern.? 87.40-50 is qtrly resistance.
EURO...shorts begin to cover with sustained price action over 125.10 resistance.
I'm looking to go short @ 126.20.
USD/CAD...put in an ORL day (Stronger Canadian dollar). 112.80 is closing Canadian resistance. (app 88.65 Futures).
USD/JPY...112.60 ( 88.80 Futures) is the nearest level to sell Yen and tightly manage your risk.
Commodities...
OIL...price action over 79.50 resistance will elicit buying.
Brent....needs closes over 85.00 resistance for further strength.
JJG...a close over 37.45 is needed to gain upside momentum
SX...November need a close over 10.45 to gain upside momentum.
GOLD....put in an ORH day Friday, running out all the shorts.
1180-90 is the sell zone which was tested in early Asian trade.
Today is the World Crop Estimates @ 11:00 A.M. CDT today.
General Comments or Valuable Insight
Friday was all about running shorts out of the 30 Yr. Bonds which in turn had the same effect on the Gold,Canadian & Aussie Dollars.
Follow the Bonds again today, for resistance here is now matching up with resistance in the Aussie & Euro.
I'm expecting another opening range trade with in the Currencies & Bonds with lots of stock rotation.
The Equity Indices are Long U.S. Short Europe and emerging markets.
Keep AAPL,DIS, Gopro & Under Armour on your radar going into the Holidays.?
AUD/USD...Australian Dollar
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.