September 1, 2015 - 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 Bill Davis, 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

GOGO? Long at $19.93
Premium collected - $1.25

NCR Long Jan 15 $27 Call
NCR Short Jan 15 $32 Call
Net Debit - $1.70

VNR Long at $8.91
Short September $9 call @ $.50

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At 12:00 EDT tomorrow there will be a live webinar. Hopefully you can make it. You should have received a link already to sign up for the webinar.

If you have a question you would like me to address, please feel free to email me at davismdt@gmail.com and I will attempt to do so on the webinar.

Now onto the markets.

The markets are down significantly pre open.? This should be the retest of the low.

If you read my special report on the state of the markets you know that I am looking at a cross of the 200 exponential moving average (EMA) under the 253 average as a major event.

It is very close to having that bearish cross under.

And perhaps with today's selloff, it just may occur.

Here are the key levels for the markets.

Stocks...
?
VIX:?

Major level - 43.75
Major level - 37.50
Major level - 31.25
Minor level - 29.68
Minor level - 26.56
Major level - 25.00
Major level - 18.75

The VIX should pop this morning.? Expect the lower levels to act as support.

S & P 500 Cash Index:?

Major level - 2,000.00
Minor level - 1,976.62
Major level - 1,968.80
Minor level - 1,945.32
Major level - 1,937.50
Major level - 1,906.30
Minor level - 1,882.83
Major level - 1,875.00

1,906.30 should be a strong level of support.
The VIX would have to stall and reverse to the downside before initiating any long positions.

Nasd 100 (QQQ):?

Major level - 109.38
Major level - 106.25
Minor level - 103.91 *
Major level - 103.13
Major level - 100
Minor level - 99.21
Major level - 96.88
Major level - 93.75
Major level - 90.63
Major level - 87.50

Sell against resistance levels.

TLT:?

Major level - 131.25
Major level - 128.13
Minor level - 125.78
Major level - 125
Minor level - 124.22
Minor level - 122.66?
Major level - 121.88
Minor level - 121.09 *
Major level - 118.75

The 121.88 level has been support. The TLT should pop up based on the pre market sell off.? 125 should be the objective.

Short term timeframes remain in uptrends.

GLD:

Major level - 115.63
Major level - 112.50
Minor level - 110.16 *
Major level - 109.38
Minor level - 108.60 *
Minor level - 107.03
Major level - 106.25
Minor level - 105.46
Minor level - 103.91
Major level - 103.13

The GLD is above the 109.38 level this morning.
Look for that level to act as support.

Lower levels should act as support.

XLE:

Major level - 68.75
Major level - 65.63
Minor level - 64.85
Minor level - 63.28 *
Major level - 62.50
Minor level - 61.72
Major level - 59.38
Minor level - 58.60
Major level - 56.25

The 62.50 level should act as support.? If it can not, look for a retest of 59.38.

Apple:

Major levels for Apple are 112.50, 106.25, 100, 93.75 and 87.50.
100 should be a major support level for Apple.?

Apple is down almost $3 pre market.? Look for the levels to act as resistance.

Watch list:
Bullish Stocks:? WCG, FIS, FLO, POST

Bearish Stocks: VRNT, SAVE, ADSK, FE, DSW, DFT

Be sure to check earnings release dates.