November 13, 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?????????? 13.80
The above stops are Stop On Close.?? ? ? ? ? ? ? ? ? ? ? ???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ?
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Today's Working Orders
SELL 1/2 JJG @ 39.30
SELL 1/2 FORD (F) @ 14.86
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Stocks...
Nasd 100...I'm looking for an eventual 4400.
Spu's..2060 is the next level technicians are targeting.
Bonds ...
30 Yr. Futures... 142.10 is weekly resistance and the closing upside pivot.
FX...
AUD/USD... 87.35-50 is closing resistance that has to be overcome to believe the pattern. Holding above this level could lead to a run to 88.40.
EURO...for new direction Euro has to see new price action either above 125.10 or firmly below 124.00.
USD/JPY... 112.65 (88.77 Futures) is the place to Buy Dollars / Sell Yen.
AUD/JPY...has traded to it's first tgt level of 101.05. Pattern buy stops are @ 102.35, which should lead to an eventual 105 print.
GBP/USD...157.52 was the launch # from the 2nd qtr. of 2013. Price action around this level will be crucial for the next move in Sterling. This is not a place to press shorts unless you're trading it on a cross with a tight leash.
EUR/GBP...put in an ORH day yesterday. A close above 79.25 is needed for upside follow through. 79.63 is weekly resistance.
Commodities...
OIL...keep selling rallies until proven wrong. It's an oversold pig, meaning trade location on rallies is crucial to making money.
Brent...is the feature in the Oil complex today.
Natgas...tried to penetrate it's 200 DMA and failed. Below 4.14 this could retest 4.02.
General Comments or Valuable Insight
We're back into this grinding phase again in the Equity Indices, where you have big stock rotation and little volatility.?
Stock picking will be important going into year end.
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.