November 1, 2013 - 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 TBT ? ? ? ? ???????????????? 72.57??????? 71.90?????????? 74.60/76.40
Long VIX 14/16 call spread ? 55
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Today's Working Orders...
Sell?1/2 Long TBT @ 74.05 GTC
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Stocks...
TBT...we've lowered our sell order again. Any print in the 30 Yr. Futures today into the 133. teens ( 19,18,17) take some money off the table in this trade!
Bonds...
30 yr. Futures...the levels remain the same, 134.02 then 133.15 +- 3 ticks.
Bonds have been giving us point moves on a daily basis.
FX...
AUD/USD...94.50 seems to be the hold level on the point & figure charts. Below this area I'd look for another dollar to 93.30.
EURO...134.75 is where the next set of resting sell stops are. This is the place to look for a bear trap the first time down.
Commodities...
Crude Oil...95.95 was the last low and a level for a potential double bottom. It's definitely not a level to sell into. The market is trading oversold.
A new low from this level followed by quick price recovery higher, like the S&P's yesterday, could be a level you get a short covering rally. Sell rallies not breaks.
There are lower targets.
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General Comments orValuable Insight
Today is a new month so we'll use yesterday's closes for short term market tone. Good above/negative below.
We're still running a half position in the Vix we'll keep into next week.
We'll start to focus on the precious metals next week Wednesday, to see if anything is lining up for an unemployment trade.
We'll be out of office late A.M. for midday meetings.
Short Term View...
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30/13 ( September 30th) closes as your macro pivots. Trade the opening ranges and early time frames.
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I urge all MDT subscribers to please please go to the Learn to Trade page and?review the webinar we put up in September.?
It is an invaluable tool for any investor!
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