Daily Trader: Trade Ideas For July 21st, 2014

Following are our trade ideas for our Daily Trader portfolio for Monday July 21st, 2014. These are short term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. American Realty Capital Properties, Inc. (ARCP)
    • Direction: Long
    • Entry: 13.16
    • Stop: 12.79
    • Target: 13.69
    • Pattern: Bull Flag / Expansion Candle
  2. Celanese Corp. (CE)
    • Direction: Short
    • Entry: 62.13 or ORB (Opening Range Bar – first 30 minutes candle) break down
    • Stop: 63.19 or Above ORB
    • Target: 60.57
    • Pattern: Outside Day Reversal Candle / Expansion Candle

Previous Trades Update:

Some of our trades triggered on July 18th. If you have not already closed them then modify the stops and target levels.

  • BBG (short) – update stop to 24.94 and target to 24.26
  • SHW (long) – modify stop to 209.74 and target o 212.38
  • ENB (long) – closed for a gain of 0.6%

Trades triggered on July 17th:

  • AMCX (long) closed for a gain of 2.0%
  • HCA (long) closed up for 0.5%
  • KMI (long) returned 2.4%
  • HZNP (short) gained 0.7%
  • NYCB ( short) lost 1.6%

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