September 2, 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 IWM ????????????????????? ??????????????? 115.25???????? 115.00 Stop Close
Long TQNT?????????????????????????????????????? 19.40????????? 19.00 Stop Close

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Today's Working Orders

Sell IWM? 115.00 Stop Close
Sell TQNT ?19.00 Stop Close

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Stocks...

DXJ...gains upside momentum over 50.10.

XLE...the energy SPDR is looking good. This has room to run to close to 100.

Bonds ...

30 yr. Bonds...140.21 is first support. The point & figure chart has room for a move to 139.06 in the Sept.

FYI...I will be writing and trading off the Sept. into the end of next week.

TBT...this could easily bounce to 55.75.

FX...

EURO...130.20-45 is the next qtrly support level. This area will need? work to get through.

USD/JPY...105.50 is the next big area to retest. (App 94.85 Futures)

104 will be the first near term Dollar support (96.15 Futures)

CAD/JPY...Long Canada/Short Yen is looking good on the weekly and monthly charts.

Traders wishing to be short yen will be using the crosses as a surrogate to an outright Yen short.

CHF/JPY...is another cross at critical resistance which will act as the upside pivot.

AUD/JPY...put in an ORH month. We'll monitor this on a pullback later in the week for a Long.

EUR/AUD...a close below 140.30 is needed for more downside. 141.90 is first resistance. 142.55-85 would be an ideal place to sell this cross with a tight stop.

Commodities...

OIL...96 +- 10 ticks will be pivotal. 94.25 is today's support.

USO...35.20 is support. 36.20-30 is mvg avg resistance and the upside closing pivot for higher prices.

LCV (August Live Cattle)...1.5250 is resistance and the upside pivot.

General Comments orValuable Insight

Today will be an opening range trade in most instruments.

This trade started off in last night's Asian session with the Dollar catching a bid against most currencies.

Use the opening range and Friday's close for your bias. Above it instruments remain firm, below weak.

Grains are trying to bottom. A close above 38.65 will have us buying the JJG for a trade.

Don't fight the flow!!

AUD/JPY

CHF/JPY

CAD/JPY

For Medium Term Outlook click here.

For Glossary of terms and abbreviations click here.

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