November 25, 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
FXI????? Long????????????????????? 39.96 ?????? 39 ????????????? 41.75
DXJ????? Long???????????????????? 50 ? ? ?????? 49 ?????????????? 53
APPL??? Long?? ? ? ? ? ? ? ??? 520.70?????? 518 ???????????? 545
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Today's Working Orders...
No working orders
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Stocks...
Spu's...the break and hold has the potential to take us to the original tgt of 1820
SSO...94.90 is support. We're still looking for a tgt of 102
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Bonds...
30 yr. Bonds...131.28-132.04 will be pivotal in determining the nest wiggle in Bonds. By maintaining above you should see a test of 132.18
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FX...
AUD/USD...is oversold on the daily charts, however sustaining under 91.40 will lead to lower prices.
AUD/JPY...93.50 is today's resistance and the upside pivot. You shouldn't see much above 94.00 the first time up.
USD/JPY...were looking for 103.50 (96.60 Futures) as an initial tgt area.
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Commodities...
OIL...93.33 is the closing pivot for more down. Below, expect to see close to another 2 dollars lower.
Metals...as long as the Equity party rolls on these will remain in sell the rally mode as investors look for returns.
General Comments orValuable Insight
We've just had another big run up in the U.S. Equity Indices since last Thursday without any price consolidation (No back and filling).
Spu's have rallied 35 points straight up, with the Nasd tacking on another 80 points. Mexico and European Bourses are still trending higher.
Investors are complacent and the volumes will shrivel to nothing over the next two days.
Markets are trading overbought again. This simply means that we either go sideways and grind up, or we have to have a small wiggle down to relieve the RSI's to go higher.
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Short Term View...
Keep trading to make money. The opportunity will be in individual names.
Less is more this time of year. Be patient, if you miss something it's much better than taking it in the shorts!
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.
For Glossary of terms and abbreviations click here.