October 29, 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

????????????????????????????????? ? ???????????????????????????? Entry????????? ? Stop????????????????? TGT

Long? JJG??????????????????????? ??????????????????? 37.00 ? ? ? ? ? ? ? ? ????????????????????? 40

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Today's Working Orders

BUY CZ ( December Corn Futures) @ 3.61

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Stocks...

DAX...A close above 9110 should be treated as an upside break out.

XLE...looks positive.

DIG...has been lagging XLE. Sustained price action and a close over 65.00 is an upside breakout.

Look to play these ETF's form the long side with stronger Oil futures.

Bonds ...

30 Yr. Futures...need back under 141.12 close to head lower. Price action over 142.10 is needed for higher.

140.02-05 is support and the downside closing pivot.

Bund...has a double top @ 151.12. 150.00 is mvg avg support.

Stuck in the middle.

FX...

USD/JPY...? 107.60 (92.85 Futures) is resistance.

EUR/JPY...by holding 137.55, look for another figure higher. 139.07 is today's 200 DMA.

AUD/USD...89.16 is the 2013 close and today's pivot. Keep this level in your sights after the Fed release today.

Commodities...

OIL...the point & figure is trying to break out to the upside. A close over 83.00-15 resistance is price positive.

Natgas...November Futures expires today. December is trading @ a 10 cent premium.

Brent...84.50 is support.

Brent has been holding every break to 84.50 support. This is the key to trading Oil.

By maintaining above 86.25, I'm looking for a rally to 88.10.

Grains...Bottoming...

Soybeans...Beans can wiggle back into 9.85 and go higher.

Corn...is attempting an ORH month. A Friday close above 3.595 confirms the pattern.

I'm looking for an initial 60 cent rally.

General Comments or Valuable Insight

The Oil names will all be in play this morning. These are the names where investors will go looking for value before the Fed.

We missed getting filled on our price order in the Corn by 1/4 cent. Traders that are at the screen when this happens with any instrument I'm interested in, should start a position.

DIG...should open @ or just over resistance, making it a good candidate for an opening range trade.

Weekly Oil Inventories come out today @ 9:30 CDT.

Crude

XLE

CLEZ

Brent

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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