Market Remarks

Daily Trader: Trade Ideas For July 18th, 2014

Sunil Sharma

Following are our trade ideas for our Daily Trader portfolio for Friday July 18th, 2014. These are short term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Enbridge, Inc. (ENB)
    • Direction: Long
    • Entry: 48.89
    • Stop: 48.27
    • Target: 49.20
    • Pattern: Expansion Candle / Symmetrical Triangle Up Break Out
  2. Sherwin Williams Co. (SHW)
    • Direction: Long
    • Entry: 211.47
    • Stop: 207.42
    • Target: 219.93
    • Pattern: Expansion Candle / Resistance Break Out / Gap Up
  3. Agilent Technologies, Inc. (A)
    • Direction: Short
    • Entry: 55.07
    • Stop: 56.16
    • Target: 54.52
    • Pattern: Gap Down / Support Break Down / Expansion Candle
  4. Bill Barrett Corp. (BBG)
    • Direction: Short
    • Entry: 24.43
    • Stop: 25.66
    • Target: 24.19
    • Pattern: Expansion Candle / Reversal Candle
  5. Anheuser-BuschInBev ADR (BUD)
    • Direction: Short
    • Entry: 110.71
    • Stop: 112.75
    • Target: 109.60
    • Pattern: Expansion Candle / Potential Support Break
  6. Devon Energy Corp. (DVN)
    • Direction: Short
    • Entry: 75.54
    • Stop: 77.15
    • Target: 74.78
    • Pattern: Outside Day Reversal Candle / Expansion Candle / Support Break Down
  7. FifthThirdBancorp (FITB)
    • Direction: Short
    • Entry: 20.10
    • Stop: 20.63
    • Target: 19.90
    • Pattern: Expansion Candle / Support Break Down
  8. Keycorp (KEY)
    • Direction: Short
    • Entry: 13.45
    • Stop: 13.93
    • Target: 13.32
    • Pattern: Expansion Candle / Horizontal Channel Break Down
  9. SPDRKBW Regional Banking Index ETF (KRE)
    • Direction: Short
    • Entry: 38.37
    • Stop: 39.10
    • Target: 37.99
    • Pattern: Expansion Candle / Support Break Down
  10. MercadoLibre Inc. (MELI)
    • Direction: Short
    • Entry: 86.19
    • Stop: 89.69
    • Target: 85.33
    • Pattern: Bear Flag / Expansion Candle
  11. Regions Financial Corp. (RF)
    • Direction: Short
    • Entry: 10.12
    • Stop: 10.52
    • Target: 9.80
    • Pattern: Outside Day Reversal Candle / Expansion Candle
  12. Sears Holdings Corp. (SHLD)
    • Direction: Short
    • Entry: 37.17
    • Stop: 38.08
    • Target: 36.80
    • Pattern: Horizontal Channel Break Down / Expansion Candle
  13. SanDisk Corp. (SNDK)
    • Direction: Short
    • Entry: 91.77
    • Stop: 94.56
    • Target: 90.85
    • Pattern: Gap Down / Expansion Candle
  14. WPX Energy, Inc. (WPX)
    • Direction: Short
    • Entry: 20.69
    • Stop: 21.41
    • Target: 20.48
    • Pattern: Expansion Candle / Bear Flag
  15. Yum! Brands Inc. (YUM)
    • Direction: Short
    • Entry: 76.59
    • Stop: 78.46
    • Target: 75.82
    • Pattern: Gap Down / Expansion Candle

Previous Trades Update:

Some of our trades triggered on July 17th. If you have not already closed them then modify the stops and target levels.

  • AMCX (long) – modify stop to 63.00 and target to 65.29
  • HCA (long) – modify stop to 60.37 and target to 61.82
  • KMI (long) – set stop to 35.95 and target to 37.36
  • HZNP (short) – update stop to 14.17 and target to 13.59
  • NYCB (short) – set stop to 15.69 and target to 15.35

Trades Closed:

  • SNI (long) hit the target for 1.2% gain
  • ACIW (short) closed for 1.0% gain
  • FL (short) closed for 1.0% gain
  • HLF hit the target for 1.9% gain
  • LCI closed or 1.0% gain
  • PNC hit the target for 1.0% gain

Trades triggered on July 16th:

  • CPB (short) closed for 0.4% gain hitting the modified target
  • EXXI (short) also hit the modified target for 0.24% gain
  • RAI (short) realized 1.1% gain
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
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