October 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

No Positions?

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Today's Working Orders...

No working orders?

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Stocks..

Spu's...1692 is first resistance.
Bonds...

30 yr....131.28-05 is the bigger support level and the downside pivot.

FX...

AUD/JPY...92.60 is resistance

EUR/JPY...132.10 has to hold on a closing basis to remain firm.

GBP/JPY & CAD/JPY are both sitting on support.

EUR/AUD...is attempting an ORL day with a close below144.44, however the cross is right into daily support @ 143.55. Closing below this level will lead to further gains in the Aussie vs. the Euro.

Commodities...

General Comments orValuable Insight

I would not be chasing direction early. Let the New York opening settle out for a bit to make a trade.

CAD/JPY...94.27 is the 200 day mvg avg in this cross, which should hold the first time down. 94.61 was yesterday's low and it could very well hold right here.

This is the lowest risk cross to get short Yen. At least here you have some trade location.

Please refer to yesterday's Midday Missive for scalping instructions.

Short Term View...

We're in a game of picking the next low for an attempt back to the highs in the U.S. Equity Indices. Right now individual stocks look to be an easier read based off their own technical s.

Go with the flow. Use Monday's closes as your pivots to trade the opening ranges and early time frames.

For Glossary of terms and abbreviations click here.

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