September 30, 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

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Short 2 EURO ? ? ? ? ? ? ? ? ? ? ? ? 128.76 ??????? 122..00

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Today’s Working Orders

No working orders

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Stocks…IWM…ran the monthly ORL stops below 109.86. Sustained price action and a close below this level opens the door to 107.44 ( the qtrly ORL #).

Spu’s…1958.50 filled my downside objective for this move. Price action and a close over 1979 is price positive. Spu’s keep failing at the 50 DMA @ 1974. Closes above the 50 DMA is needed to attract new buying.

1974 is again today’s 50 DMA. Maintaining above, Spu’s could rally to 1990 resistance.

It’s a pivotal level for market tone.

Nasd 100… Yesterday’s low was a test of the 50 DMA.

4065 is near term resistance and the closing upside pivot.

Midcap 400…held the 200 DMA above 13750 on a closing basis. 14000 is first good resistance.

ASX 200…is attempting an ORL Month. Price action above 5335 is needed to negate this pattern.

 

Bonds

30 yr. Bonds…137.19 is near support.

Bunds…need to close over 149.31 ( 50 DMA resistance ) for higher. 149.73-77 is the next daily & weekly resistance level. The eventual target for the Bund is a retest close to 151.00.

 

FX…

EURO…sustained price action over 126.80 is needed for a short covering rally.

I might take my money here near London’s close or at the end of the day.

AUD/USD…macro sell stops are @ 86.58, this years low made in January. I would expect to see this level tested in the near term.

 

Commodities

OIL... is coming into resistance @ 95.00. This will a better trade after the pit close today.

Natgas…natty shows 3.94-97 support. This is the low risk buy zone with a tight stop. This will also act as the closing downside pivot. 4.25-9 is weekly resistance.

 

General Comments or Valuable Insight

Look for the Dollar to remain bid into the close.

Specific names along with Biotech & social media names that have been working should remain bid going into the close today.

In other words, the names that have been working will get bid up with Funds looking to mark the books going into the end of the qtr.

I think there was one more, but it’s too early for me to catch it.

 

For Medium Term Outlook click here.

?For Glossary of terms and abbreviations click here.