October 3, 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

??????????????????????????????? Open??????? Stop???????? Tgt

?Long SPZ??? ? ? ? ? ? ? ? ?? 1679??? ?????? 1673???????? 1715?

?Long AUD/JPY ? ? ? ? ? ? 91.18????????? 91.00??????? 92.40/94??.70?

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Today's Working Orders...

Sell?1/2 your long AUD/JPY @ 92.40 GTC (Good Until Canceled)

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Stocks...

Spu's...are caught between 1673-1692 waiting for our fearless leaders to do their jobs!

Bonds...

FX...

AUD/JPY & EUR/JPY....are both up at short term resistance.

AUD/USD...needs a good close over 94.25 to lead the AUD/JPY cross.

Commodities...

Precious metals...investors trading this range should be aware that they are being spread against the Euro. Short-Term traders should be aware of the support & resistance levels in Euro/Metals spreads.

Line them up with straight support & resistance areas in the underlying metal. Do your homework.

General Comments orValuable Insight

I have a small Risk On Bias with extremely tight stops. Use your opening ranges and time frames today to keep chipping away.

Individual names will continue to be a better place to trade than the Indices.

Any movement out of D.C. perceived as a possible resolution to the Debt Ceiling will be Risk On.

More "He said She said"? and the markets will continue to wallow.

I still don't rule out a big break this month. I nibbled at a small Risk position just to?have some exposure to the upside, "Glass half full kind of thing".
Closing lower on the month in the Equity indices will have me put my Bull costume in the closet until Halloween.

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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