November 20, 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??Ford (F)???????????????????????????????????? 14.19?????????? 14.00
The above stops are Stop On Close.?? ? ? ? ? ? ? ? ? ? ? ???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ?
?.......................................................................................
Today's Working Orders
No working orders.
.......................................................................................
Stocks...
DAX... The weekly ORH # is 9400, the level that needs to hold on a break.
9510 is today's 200 DMA. All new closing strength over this resistance level is needed for a test of 9820.
Midcap...needs over 14,3200 close to regain it's footing.
Spu's...2020-22 is support and the closing downside pivot.
GPRO...is down over 7% this A.M. after putting in an ORL day. This could gets as low as 68 which is the low risk buy level. Bounces could materialize from 71 on down.
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.
Bund...needs price action and a close below 151 to break.
FX...
AUD/USD... 88.10 is 50 DMA resistance.
EURO...today's resistance is 126.15-30. 125.00 is support and the downside closing pivot.
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. This will remain closing support.
Silver...needs price action and a close over 16.45 to break out to the upside.
Above 16.45, look for a test of 17 at the 50 DMA.
General Comments or Valuable Insight
Metals traders should be using yesterday's low for risk management on any longs.
Oil should get interesting today with the December contract expiry.
It's risk management time going into next week.
Less is more.
We were stopped out of our remaining long grain position on the close.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.