November 25, 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.
Holiday Schedule
There will be no Opening Bell for the remainder of the week.
MDT Bi-Weekly webinar will be broadcast live today, Tuesday 11/25, at 12 EST.
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Current Positions
Long??Ford (F)???????????????????????????????????? 14.19?????????? 14.00
Long GDX 5 DEC 14 21 Call?????????????? .36
The above stops are Stop On Close.?? ? ? ? ? ? ? ? ? ? ? ???????????????? ? ? ? ?? ? ? ? ? ? ? ? ? ?
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Today's Working Orders
No working orders.
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Stocks...
Spu's...the first swing count is 2120.
DAX...9860-10,050 is an important resistance zone. Bears will try to sell into this level
looking for a market correction. I doubt the bears get much.
For Bulls, they have to be patient. The market has to work through this area, and it's a big area, for another 10% upside in German Equities.
DAX/BUND...is powering through it's 200 DMA (Resistance) @ 6465.
6604 is the next technical level that should reject the first time up.
Closes over 6633 will kick off a bigger rally in European equities.
Deutsche Bank...has some initial resistance @ 32-32.40 on it's way to 33.
Closes above 33 are needed for a much bigger rally.
DIG...needs to hold 65.75 on a closing basis to remain firm.
Bonds ...
30 Yr. Futures... 142.10 is weekly resistance with buy stops above.
If elected, look for 142.25 for a start.
The monthly chart has room to move higher. Only closes below 140.00 portend higher yields.
FX...
AUD/USD...Could probe as low as 84.50 on the qtrly charts and still hold up.
EUR/AUD...146.01 is the 200 DMA. 2 days down followed by 2 days up right back to resistance.
Selling weakness in the Aussie is not recommended at these levels.
Commodities...
OIL... 75.60 is support and the closing downside pivot.
Silver...needs price action and a close over 16.45 to break out to the upside.
Above 16.45, look for an initial test of 16.86 at the 50 DMA.
General Comments or Valuable Insight
The Equity Indices will close at or on their highs for the year tomorrow.
Spu's have rallied 65 + points without a 25 dollar back and fill retracement.
So yes, they are getting a little rich, but i seriously doubt you'll see any back and fill unless it's on the Globex platform Thursday into Friday when the U.S. is out.
Metals and Miners...I'm going to run the GDX calls through the weekend and the Swiss vote.
European rates are not done going lower, which should sustain the upward bias in global equities.
30 yr. Bond Futures
AUD/USD
For Medium Term Outlook click here.
For Glossary of terms and abbreviations click here.
