September 18, 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
Long IAT?????????????????????????????????? 34.13????????? 33 Close
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Today's Working Orders
No working Orders?
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Stocks...
DXJ...remains positive with the falling Yen. This ETF is heading for a retest of the 2013 high of 53.94.
Bonds ...
30 yr. Bonds...(Z) 136.00 will run the price action today. Short covering above, weak below.
FX...
AUD/USD...89.16, last years close in the Aussie, is support and the downside closing pivot.
Euro...129.15-25 is resistance and the upside pivot. Looking at the point & figure chart there is no significant rally that can materialize unless 130.00 is closed above.
GBP/USD...remain firm as long as there is no close below 162.30.
Commodities...
OIL...Oct (V) crude is rolling off the board, settling Monday. Nov (X) is now front month and the most liquid future. 92.80 is very short term support which should be the pivotal level for a dollar wiggle either side.
It will be easier to trade this next week as Nov. is trading at a $1 discount to Oct.
General Comments or Valuable Insight
The Scottish vote is still going on. The results will be known in another 10 hours.
Markets will be reacting to exit polls in the afternoon session.
Time Frame Trading today.?
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.