Following are our trade ideas for Monday July 25th in our Daily Trader portfolio.These are short-term trade ideas that are normally closed either the same day or in next few days. Trade nimbly.
- Spansion Inc. (CODE)
- Direction: Short
- Entry: 19.75
- Stop: 21.41
- Target: 19.10
- Pattern: Expansion Candle / Ascending Triangle Down Break
- Mallinckrodtplc (MNK)
- Direction: Short
- Entry: 73.69 or ORB (Opening Range Bar – first 30 minute candle) break down
- Stop: 75.36 or above the ORB
- Target: 72.95
- Pattern: Bear Flag
- Pattern Energy Group Inc. (PEGI)
- Direction: Short
- Entry: 31.60
- Stop: 32.50
- Target: 31.28
- Pattern: Double Top / Expansion Bar
- Tempur-PedicIntl Inc. (TPX)
- Direction: Short
- Entry: 55.57
- Stop: 56.65
- Target: 53.37
- Pattern: Gap Down / Expansion Candle
- Ctrip.com Intl Ltd. (CTRP)
- Direction: Long
- Entry: 67.33
- Stop: 65.42
- Target: 70.02
- Pattern: Expansion Bar / Horizontal Channel Up Break
- Golar LNG Ltd. (GLNG)
- Direction: Long
- Entry: 63.04
- Stop: 61.39
- Target: 65.56
- Pattern: Horizontal Channel Break Up / Expansion Candle
- Mellanox Technologies Ltd. (MLNX)
- Direction: Long
- Entry: 44.50
- Stop: 42.75
- Target: 46.35
- Pattern: Expansion Candle / Down Trend Line Up Break
- SolarWinds Inc.(SWI)
- Direction: Long
- Entry: 44.57
- Stop: 42.75
- Target: 45.31
- Pattern: Expansion Candle / Breakout Gap
- Stanley Black & Decker Inc.(SWK)
- Direction: Long
- Entry: 91.07
- Stop: 90.22
- Target: 92.51
- Pattern: Expansion Candle / Horizontal Channel Up Break
- Tenet Healthcare Corp. (THC)
- Direction: Long
- Entry: 53.97
- Stop: 51.24
- Target: 56.13
- Pattern: Horizontal Channel Up Break / Expansion Candle
- YY Inc. (YY)
- Direction: Long
- Entry: 79.99
- Stop: 76.39
- Target: 81.29
- Pattern: Expansion Candle
Previous Trades Update:
Some of our trades triggered on July 25th. If you have not already closed them then modify the stops and target levels.
- RKUS (long) – modify stop to 12.11 and target to 12.54
- UA (long) – update stop to 67.50 and target to 70.49
- CMI (short) – modify stop to 161.35 and target to 143.10
- CCI (short) – update stop to 74.31 and target to 72.83
- ITB (short) – update stop to 23.31 and target to 22.84
- LEN (short) – modify stop to 39.12 and target to 38.07
- PHM (short) – change stop to 19.14 and target to 18.60
- TOL (short) – modify stop to 34.47 and target to 33.51
- TER (short) hit the target with 0.8% gain
Trades triggered on July 24th:
- WHR (long) closed up with 2.3% gain
- ADI (short) closed with 0.9% gain
- FSL (short) closed with 4.9% gain due to a gap down open
- LLTC (short) gained 1.4%
- MON (short) lost 0.3%
- MXIM (short) gapped down and closed with 16.2% gain
- THRX (short) closed with 1.4% 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
