Following are our trade ideas for our Daily Trader portfolio for Thursday July 17th, 2014. These are short term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- AMC Networks Inc. (AMCX)
- Direction: Long
- Entry: 64.42
- Stop: 62.90
- Target: 66.56
- Pattern: Expansion Candle / Resistance Break Out / Gap Up
- HCA Holdings Inc. (HCA)
- Direction: Long
- Entry: 61.54
- Stop: 59.88
- Target: 64.00
- Pattern: Expansion Candle / Resistance Break Out
- Intel Corp. (INTC)
- Direction: Long
- Entry: 34.84
- Stop: 33,58
- Target: 36.23
- Pattern: Expansion Candle / Gap Up
- Joy Global Inc. (JOY)
- Direction: Long
- Entry: 65.46
- Stop: 64.46
- Target: 68.08
- Pattern: Expansion Candle / Horizontal Channel Break Down
- Kinder Morgan Inc. (KMI)
- Direction: Long
- Entry: 37.04 or ORB (Opening Range Bar – first 30 minute candle) Break Out
- Stop: 35.80 or below ORB
- Target: 37.94
- Pattern: Expansion Candle / Resistance Break Out
- Microsoft Corp. (MSFT)
- Direction: Long
- Entry: 44.41 or ORB (Opening Range Bar – first 30 minute candle) Break Out
- Stop: 43.71 or below the ORB
- Target: 46.16
- Pattern: Expansion Candle / Resistance Break
- SAP SE (SAP)
- Direction: Long
- Entry: 79.91 or ORB (Opening Range Bar – first 30 minute candle) Break Out
- Stop: 78.60 or below ORB
- Target: 83.11
- Pattern: Expansion Candle / Resistance Break Out
- Scripps Networks Interactive Inc. (SNI)
- Direction: Long
- Entry: 85.20
- Stop: 82.91
- Target: 86.20
- Pattern: Expansion Candle / Horizontal Channel Break Out
- ACI Worldwide Inc. (ACIW)
- Direction: Short
- Entry: 17.52
- Stop: 18.02
- Target: 17.34
- Pattern: Expansion Candle / Potential Support Break
- Avon Products, Inc. (AVP)
- Direction: Short
- Entry: 14.10
- Stop: 14.50
- Target: 13.96
- Pattern: Expansion Candle / Support Break Down
- Foot Locker, Inc. (FL)
- Direction: Short
- Entry: 47.73
- Stop: 48.97
- Target: 47.25
- Pattern: Expansion Candle / Support Break Down
- Herbalife Ltd. (HLF)
- Direction: Short
- Entry: 60.94
- Stop: 62.53
- Target: 59.79
- Pattern: Expansion Candle / Horizontal Channel Break Down
- PNC Financial Services Gr (PNC)
- Direction: Short
- Entry: 84.46
- Stop: 84.46
- Target: 83.62
- Pattern: Expansion Candle / Gap Down / Support Break Down
- HorizonPharma Inc. (HZNP)
- Direction: Short
- Entry: 13.68
- Stop: 14.40
- Target: 13.54
- Pattern: Expansion Candle / Up Trend Line Break Down
- Lannett Co., Inc. (LCI)
- Direction: Short
- Entry: 38.41
- Stop: 40.81
- Target: 38.03
- Pattern: Expansion Candle / Support Break Down / Gap Down
- New York CommunityBancorp (NYCB)
- Direction: Short
- Entry: 15.45
- Stop: 15.95
- Target: 14.90
- Pattern: Expansion Candle / Support Break Down
Previous Trades Update: Some of our trades triggered on July 16th. If you have not already closed them then modify the stops and target levels.
- CPB (short) – modify stop to 44.75 and target to 43.81
- EXXI (short) – set stop to 21.24 and target to 20.56
- RAI (short) – update stop to 59.83 and target to 57.90
- CMA (long) stopped out for 1.3% loss;
Please Note: These are short-term trade ideas that we normally close in a day or two. Some of the trades are held longer based upon the price action. If there is abnormal price action then act accordingly to either lock-in the profit or limit the loss. We do send out alerts if there is any abnormal price action. Remember to check this site for alerts and further updates.
- We usually avoid taking a position if there is big gap-up or gap-down.
- If there is a gap-up or gap-down then if in the first half hour there is a snap-back or pull-back to our original entry then we take that unless the price ran away too much and then snapped-back or pulled-back
- If there is no snap-back or pull-back in the first thirty minute then we wait for the ORB (Opening Range Break - a break above or below the first thirty minute candle - in the original trade direction
- If the entry is based upon the ORB then the stop is usually beyond the other end of the bar.
- Remember to position size based upon your risk-tolerance
