October 29, 2014 - MDT - Midday Missive

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.

All the bears think today into tomorrow is the high for another swan dive.

I'm not in that camp.

The Equity indices will be about how and where they hold on a pullback today into tomorrow, for I doubt you'll see much selling Friday (month end) unless there is some surprise out of the Fed today.

I would need to see a close below 1956 for a near term high (today's ORL#). That occurrence could leave open a move back to the 200 DMA.

Anything into the mid 1950's in the Spu's is a buy before you sell zone.

2002-2020 Spu's is the death zone for new longs the first couple of times up.

Closes over 2020 target another 100 points higher.

Nasd 100...has yet to retest the 2000 high of 4882. Closes over 4120 tgt at least another 200 points higher.

Look for IBB to lead that charge.

ASX 200...5411 is the hold and downside closing pivot level today.

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

Legal Disclaimer

There is a very high degree of risk involved in trading. Past results are not indicative of future returns. MadHedgeFundTrader.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of MadHedgeFundTrader.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.