November 17, 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 ? ??????? 37.00 ? ????????????? 42
Long??Ford (F)???????????????????????????????????? 14.19?????????? 14.00
The above stops are Stop On Close.?? ? ? ? ? ? ? ? ? ? ? ???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ?
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Today's Working Orders
No working orders.
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Stocks...
Nikkei...Japan is putting an ORL day with a close below 17,335. 17,175 is first support and the downside momentum level.
ASX 200...5431 is today's ORL # as well as the 200 DMA.
Spu's...2020-22 is support and the closing downside pivot.
Nasd 100...4173 is support and the closing downside pivot.
IWM...114.95 is first support.
Bonds ...
30 Yr. Futures... 142.10 is weekly resistance and the closing upside pivot.
Sustained price action above will see the Bonds trading a point at a time to the upside.
Key off this level in the 30 Yr. today for it will run follow through in the currencies and the Equity Indices.
FX...
AUD/USD... 88.10 is 50 DMA resistance.
EURO...today's resistance is 126.23
AUD/JPY... Pattern buy stops were elected @ 102.35 in early Asia.
USD/JPY... 115.72 is today's ORL # in the Yen. (86.43 Dec Futures).
86.81 is first resistance 115.21 cash. (the Yen High last night)
Commodities...
OIL...needs price action over 76.55 resistance for a rally.
Brent...needs over 80.20 to rally. 77.83 is the downside target and exit zone for shorts.
Sustained price action and a close below 77.80 is needed for further weakness in the oil complex.
Price action back over 80.20 can lead to another short covering rally to as high as 83.00
Look for moves in 2 dollar increments.
Natgas...4.23 is first Fib resistance for this past swing.
General Comments or Valuable Insight
Between Japan entering recession and the bad loan #'s out of China in early Asian trade, Equity Indices and the Dollar took it on the Chin.
Attention should be paid to the Yen crosses which have all come a long way.
An ORL pattern in the Nikkei could have a positive effect on the Yen, as Ms Watanabe brings her Yen home.
All Instruments tried to reverse last night only to fade when cooler heads came into the market in Europe.
Currencies & U.S. Treasuries rallied to resistance while the U.S. Equity Indices still seem insulated from the rest of the world.
Time Frame Trading....We're getting into that time of the year when managers are pressing for returns.
Be patient, trade on your own terms at key technical levels to manage your risk.
?Nikkei Futures
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.