September 19, 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
Entry?????????? Stop?????????? Targets
Long?AUD/JPY ? ? ? ? ???92.15 ? ? ? ? ?93.20 ? ? ? ? 95.58-88
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Stocks...
PBR...16.56 is the 200 day mvg avg and resistance. Closing over this level is needed for more upside. Line this up with the EWZ for resistance and upside follow through.
?
Bonds...
Bunds... 138.90 is the upside pivot. By maintaining above, they can rally another 150 points.
30 Yr....133.31 is resistance in either month and the upside pivot.
?
FX...
Euro...134.52 should be used as the short term upside pivot for the rest of the month. The last time we had a move this directional without an 80 point pull back was July.
EUR/AUD...is getting oversold on a daily chart. 141.80-142 is support. below look for this cross to move close to 200 points to the downside.
AUD/USD...95.25 is near resistance and should take a couple of attempts to overcome. 96.70 is the tgt we're still looking for.
USD/JPY...98.85 will be pivotal for the Yen going forward. Since the cross was close enough to the 200 day and USD/JPY was trading here, I thought it time e to lock in some money on this trade.
Commodities...
Silver...
23.50 is the short term tgt.?and resistance? ?with 23.82 being overextended the first time up.
?
Gold...1,370-80 is resistance?.
Copper?.?..3.43-44 is closing resistance.?
General Comments or Valuable Insight
?Ok, Now I'm in Yra Harris's camp! http://yragharris.com/2013/09/
Who leaked the Fed statement?
3 minutes before the release, Gold blasted off and led all risk assets higher.?
The Fix was definitely in! Somebody got their money's worth from all those spent PAC dollars. Hey, a big thank you to the Supreme Court for overturning campaign finance.
"We have the best government money can buy"... George Carlin
As long as I'm ranting, It's time to ban High Frequency Trading and level the investing landscape!
We should no longer cater to the few select BOT Billionaires who make it impossible for the rest of us to get off a trade.
Time to restrict their privileged access to view inside the order books of the exchanges and front run orders in return for volume.
"Never give a sucker an even break" W.C. Fields...We're the suckers.
How do I really feel? Let me give you a visual.
Close your eyes and imagine Eddie Murphy rolling his eyes wide, shaking his head and saying "Buuuuul Sh_t"..."that was some real Bull Sh_t!!!"
I haven't seen shenanigans like that since Regan's second term.
Not to worry, the CFTC is an effective watchdog! Gee, how many years has it been since Corzine blew up Man Financial?
I should be starring in a remake of the movie Network. Everyone please lean out your window and shout "I'm mad as hell and I'm not going to take it anymore."
Short Term View...
?Tough to chase a 5% up day in India, Brazil,Spain & China?.
We've just gone from one extreme to another. With Bonds and Index Futures expiring today a little patience is required.
The Miners made everything else look relatively tame by moving over 10% off the low. Like I said yesterday, I wasn't on the 35K/night dinner circuit.
This game is just starting to rev up so don't feel like you missed anything yet.
We've hit my early tgt for the Spu's. We could eventually trade closer to 1780 in the Spu's and 3330 in the Nasd 100.
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