Our Daily Trader portfolio scan generated following trade ideas for July 31st, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days.
- Booz Allen Hamilton Holding Corp. (BAH)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30 minute candle) break
- Stop: 1 point from entry
- Target: 1 point from entry
- Pattern: Gap Up / Expanding Candle
- Mednax, Inc. (MD)
- Direction: Long
- Entry: 60.18
- Stop: 58.10
- Target: 62.59
- Pattern: Expansion Bar / Resistance Break
- Staples, Inc. (SPLS)
- Direction: Long
- Entry: 11.46
- Stop: 10.98
- Target: 11.56
- Pattern: Potential Resistance Break / Expansion Bar
- WeightWatchersIntl Inc. (WTW)
- Direction: Long
- Entry: 21.22
- Stop: 20.05
- Target: 22.07
- Pattern: Expansion Bar
- Ferro Corp. (FOE)
- Direction: Short
- Entry: 11.88
- Stop: 12.51
- Target: 11.76
- Pattern: Expansion Bar
- Hartford Financial Services Group, Inc. (HIG)
- Direction: Short
- Entry: 30.14
- Stop: 31.19
- Target: 29.15
- Pattern: Expansion Bar / Doji
- Huntsman Corp. (HUN)
- Direction: Short
- Entry: 26.33 or ORB (Opening Range Bar – first 30 minute candle) breakdown
- Stop: 27..11
- Target: 26.07
- Pattern: Expansion Bar / Reversal Candle
- Mondelez International, Inc. (MDLZ)
- Direction: Short
- Entry: 36.90 or ORB (Opening Range Bar – first 30 minute candle) breakdown
- Stop: 37.46
- Target: 36.20
- Pattern: Expansion Bar
- Pioneer Energy Services Corp. (PES)
- Direction: Short
- Entry: 16.30
- Stop: 17.34
- Target: 15.63
- Pattern: Expansion Bar
- Vertex Pharmaceuticals Inc. (VRTX)
- Direction: Short
- Entry: 91.25
- Stop: 92.78
- Target: 88.52
- Pattern: Resistance Break / Expansion Bar / Gap Down
- Williams Cos., Inc. (WMB)
- Direction: Short
- Entry: 56.49
- Stop: 58.42
- Target: 54.90
- Pattern: Expansion Bar
- Utilities Select Sector SPDR (XLU)
- Direction: Short
- Entry: 41.66
- Stop: 42.39
- Target: 41.24
- Pattern: Expansion Bar
- SPDR S&P Oil & Gas Exploration & Production Index(XOP)
- Direction: Short
- Entry: 78.80
- Stop: 77.72
- Target: 73.20
- Pattern: Expansion Bar
Previous Trades Update:
Four of our trades triggered on July 30th. If you have not already closed them then modify the stops and target levels.
- CNO (short) – modify stop to 16.90 and target to 16.47
- CSIQ (short) – update stop to 26.63 and target to 23.73
- MTW (short) – modify stop to 30.80 and target to 30.03
- ENTG (short) hit the target for 1.0% return
Trades triggered on July 29th:
- HDS (short) closed with 2.1% 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
