September 30, 2013 - MDT - Midday Missive

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.

Soybeans...macro sell stops are 12.71. It's doubtful you'll see any price action under 12.40-50, which is qtrly support. Closing under that level later in the week would be Bearish.

The Beans are putting in an ORL qtr with a close today under 13.54,?which is pretty much of a lock at this point.

 

Corn...is putting in the same type of pattern (ORL) on the daily and weekly charts. The oversold condition in Corn makes me think the downside is something not worth pressing.

?

Wheat...$7 is monthly closing resistance.

 

The bigger game is after the close today. After qtr. end markings.

On a typical start to a new qtr you'd expect to see some cost averaging ( Buying of Equities) during the first 30 minutes of New York trading tomorrow which sometimes goes all day.

Time Frame, Opening range, Lemming Effect Trading...One way capital flow.

With the D.C. two step happening I'm just wondering out loud if a lot of managers don't hold off with the typical averaging.

Today's closes in everything should be written down for reference.

They will become your short term market pivots.

Good above, negative below....Buy before you Sell or Sell before you Buy. Is the instrument maintaining price action higher or lower on the qtr?

It's as simple a tool as you can use for bias and risk management.

Direction tomorrow is more important than direction the rest of the day.

Look to the names we've been speaking about for the past few weeks. Natgas infrastructure names, Healthcare ect. should all be beneficiaries of qtr. end markings regardless of D.C. machinations.

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