September 5, 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 QID?? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?? 44.30?????????? 43.40?
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Today's Working Orders
No working orders
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Spu's...the bulls saved the chart pattern from putting in an ORL in the last minutes of trading.
Closing under 1987.80 puts in an ORL week and an intermediate market top.
Support starts @ 1966-54.
Nasd 100...needs to sustain above 4085 resistance to rally.
I'll be looking to take 1/2 my double short QID off with any prints into the 3970's in the Futures.
Closing under 4054.50 puts in an ORL week and an intermediate market top.
ASX 200 (APU) Sept Futures...a close under 55860 puts in an ORL week. 55100 is first downside support.
VIX...13.57 is the 200 DMA. 14.40 is major trend resistance and the upside closing pivot.
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Bonds ...
30 yr. Bonds... Sept. resistance remains 140.22.
Last night in Early Asia all the sell stops were elected.
Price action below last night's low is needed for more of a sell off.
With the Equities weak it will pay to be patient and wait for descent resistance to short the Bonds.
Having said that, they could easily break to 138.13 to weekly trend support.
FYI...I will be writing and trading off the Sept. into the end of next week.
FX...
USD/JPY...ran all the dollar stops above 105.50 in Asian trade. We'll now have to see if the dollar has any more umpff after yesterday's huge rally.
The Yen could just sit here or rally a little with a risk off board.
USD/CAD...the big weekly break out parameters are 108 & 109.50-Futures...92.59 resistance and the upside closing pivot.
91.32 support and the downside closing pivot.
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Commodities...
Gold...1242 was the June low and double bottom that precipitated a $100 rally. There will be stops below and the last hope for Gold Bulls.
Gold needs to put in an early low and rally to have any chance to rally this month.
Short term resistance is 1278, followed by the 200 DMA @ 1286.
Silver...1940 is resistance and the short term upside pivot. 19.78 is trend resistance.
General Comments orValuable Insight
Typically unemployment is all about the Bonds and Metals.
Today me thinks it will be all about the Equity indices topping or not? out for a while.
I bought the Nasd 100 double short etf since this is the Index that has rallied the most.
For Medium Term Outlook click here.
?For Glossary of terms and abbreviations click here.