Our Daily Trader portfolio scan generated following trade ideas for August 1st, 2014. Market had a pretty big down day so all of our opportunities are on the short side. These are short-term trading ideas that are normally closed either the same day or in next few days.
- Direxion Daily S&P 500Bear3X Shares (SPXS)
- Direction: Long
- Entry: 27.00
- Stop: 26.18
- Target: 27.33
- Pattern: Gap Up / Expanding Candle
- Autodesk, Inc. (ADSK)
- Direction: Short
- Entry: 53.11
- Stop: 54.08
- Target: 52.58
- Pattern: Expansion Bar
- Agnico Eagle Mines Ltd. (AEM)
- Direction: Short
- Entry: 37.26
- Stop: 38.07
- Target: 36.85
- Pattern: Support Break / Expansion Bar / Gap Down
- Astrazeneca PLC. (AZN)
- Direction: Short
- Entry: 72.51
- Stop: 73.34
- Target: 71.78
- Pattern: Expansion Bar
- Barnes & Noble, Inc. (BKS)
- Direction: Short
- Entry: 20.76
- Stop: 21.33
- Target: 20.55
- Pattern: Expansion Bar / Support Break
- Blackrock, Inc. (BLK)
- Direction: Short
- Entry: 304.67
- Stop: 309.25
- Target: 301.62
- Pattern: Gap Down / Support Break / Expansion Bar
- CareFusion Corp. (CFN)
- Direction: Short
- Entry: 43.66
- Stop: 44.38
- Target: 43.22
- Pattern: Support Break / Expansion Bar
- Carrizo Oil & Gas, Inc. (CRZO)
- Direction: Short
- Entry: 60.89
- Stop: 62.87
- Target: 60.28
- Pattern: Expansion Bar
- DiamondRock Hospitality Co. (DRH)
- Direction: Short
- Entry: 12.09
- Stop: 12.49
- Target: 11.97
- Pattern: Expansion Bar / Support Break / Gap Down
- EOG Resources, Inc. (EOG)
- Direction: Short
- Entry: 109.31
- Stop: 111.66
- Target: 108.22
- Pattern: Expansion Bar / Support Break / Gap Down
- Direxion Daily Financial Bull 3x Shares (FAS)
- Direction: Short
- Entry: 95.46
- Stop: 97.65
- Target: 94.51
- Pattern: Expansion Bar / Support Break / Gap Down
- Guess ?, Inc. (GES)
- Direction: Short
- Entry: 25.91
- Stop: 26.44
- Target: 25.65
- Pattern: Expansion Bar
- Host Hotels & Resorts Inc. (HST)
- Direction: Short
- Entry: 21.68
- Stop: 22.16
- Target: 21.46
- Pattern: Expansion Bar / Support Break / Gap Down
- iShares Core S&P Mid-Cap (IJH)
- Direction: Short
- Entry: 136.70
- Stop: 137.80
- Target: 135.90
- Pattern: Expansion Bar / Support Break / Gap Down
- iShares Core S&P Small-Cap ETF (IJR)
- Direction: Short
- Entry: 105.80
- Stop: 106.74
- Target: 103.70
- Pattern: Expansion Bar / Support Break / Gap Down
- Russell 2000 iShares (IWM)
- Direction: Short
- Entry: 110.99
- Stop: 112.09
- Target: 109.88
- Pattern: Expansion Bar / Support Break / Gap Down
- SPDRKBW Bank Index ETF (KBE)
- Direction: Short
- Entry: 31.89
- Stop: 32.24
- Target: 31.57
- Pattern: Expansion Bar
- Direction: Short
- Live Nation Entertainment, Inc. (LYV)
- Direction: Short
- Entry: 23.10
- Stop: 23.58
- Target: 2287
- Pattern: Expansion Bar
- Direction: Short
- SPDR S&P MidCap 400 (MDY)
- Direction: Short
- Entry: 249.06
- Stop: 251.76
- Target: 247.58
- Pattern: Expansion Bar / Support Break / Gap Down
- NavistarIntl Corp. (NAV)
- Direction: Short
- Entry: 34.24
- Stop: 35.08
- Target: 33.90
- Pattern: Expansion Bar / Support Break
- Nabors Industries, Inc. (NBR)
- Direction: Short
- Entry: 27.09
- Stop: 27.84
- Target: 26.82
- Pattern: Expansion Bar
- Oneok, Inc. (OKE)
- Direction: Short
- Entry: 64.00
- Stop: 64.96
- Target: 63.75
- Pattern: Expansion Bar / Support Break
- VeriFone Systems Inc. (PAY)
- Direction: Short
- Entry: 33.41
- Stop: 34.07
- Target: 33.08
- Pattern: Expansion Bar
- Pinnacle West Cap Corp. (PNW)
- Direction: Short
- Entry: 53.22
- Stop: 53.90
- Target: 52.69
- Pattern: Expansion Bar
- Quanta Services, Inc. (PWR)
- Direction: Short
- Entry: 33.46
- Stop: 34.37
- Target: 33.13
- Pattern: Reversal Candle / Up Trend Line Break / Expansion Bar
- Spectra Energy Corp. (SE)
- Direction: Short
- Entry: 40.85
- Stop: 41.65
- Target: 40.44
- Pattern: Expansion Bar / Gap Down
- Swift Energy Co. (SFY)
- Direction: Short
- Entry: 10.80
- Stop: 11.50
- Target: 10.69
- Pattern: Expansion Bar
- Direction: Short
- Sigma-Aldrich Corp. (SIAL)
- Direction: Short
- Entry: 100.27
- Stop: 101.07
- Target: 99.33
- Pattern: Expansion Bar
- SpiritAeroSystems Holdings Inc. (SPR)
- Direction: Short
- Entry: 32.29
- Stop: 33.18
- Target: 31.97
- Pattern: Expansion Bar
- Direction: Short
- ProShares Ultra S&P 500 Fund (SSO)
- Direction: Short
- Entry: 112.29
- Stop: 114.19
- Target: 111.17
- Pattern: Expansion Bar / Support Break / Gap Down
- Stratasys, Inc. (SSYS)
- Direction: Short
- Entry: 99.82
- Stop: 101.15
- Target: 98.82
- Pattern: Expansion Bar / Gap Down
- ProSharesShortVIX Short-Term Futures ETF (SVXY)
- Direction: Short
- Entry: 76.76
- Stop: 80.43
- Target: 75.99
- Pattern: Expansion Bar / Support Break / Gap Down
- Direction: Short
- Ubiquiti Networks, Inc. (UBNT)
- Direction: Short
- Entry: 38.08
- Stop: 39.14
- Target: 37.70
- Pattern: Expansion Bar
- ProSharesUltraPro S&P 500 (UPRO)
- Direction: Short
- Entry: 109.59
- Stop: 112.30
- Target: 108.49
- Pattern: Expansion Bar / Support Break / Gap Down
- VelocitySharesDailyInverseVIX Short Term ETN (XIV)
- Direction: Short
- Entry: 39.14
- Stop: 41.12
- Target: 38.75
- Pattern: Expansion Bar / Support Break / Gap Down
- Direction: Short
Previous Trades Update:
Four of our trades triggered on July 31st. If you have not already closed them then modify the stops and target levels.
- HIG (short) – modify stop to 35.06 and keep target at 33.89
- WMB (short) – update stop to 58.27 and maintain target at 54.90
- XOP (short) – modify stop to 76.83 and keep target at 73.20
- Trades that hit the target
- HUN (short) returned 1.0% gain
- MDLZ (short) gave 1.0% gain
- PES (short) returned 4.3% gain
- VRTX (short) was up 3.1%
- XLU (short) returned 1.0%
- WTW (long) returned 3.9%
- SPLS (long) returned 0.9%
Trades triggered on July 30th:
- CNO (short) closed with 0.9% gain
- CSIQ (short) returned 3.7% gain
- MTW (short) gapped down and returned 12.3% 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
