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“long) returned 1.2% gain ADSK (short) gave 1.0% gain BKS (short) returned 1.0% gain CRZO (short) closed with 1.0% gain FAS (short) returned 1.0% GES (short) returned 1.0% IJH (short) returned 0.6% IWM (short) returned 1.0% MDY (short) returned 0.6% NAV (short) returned 1.0% NBR (short) returned 1.0…”
Our Daily Trader portfolio scan generated following trade ideas for August 4th, 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.
- LinkedIn Corp. (LNKD)
- Direction: Long
- Entry: 201.88
- Stop: 197.55
- Target: 209.96
- Pattern: Gap Up / Expanding Candle
- Canadian Natural Resources (CNQ)
- Direction: Short
- Entry: 41.89
- Stop: 42.69
- Target: 41.52
- Pattern: Expansion Bar / Support Break / Gap Down
- Splunk Inc. (SPLK)
- Direction: Short
- Entry: 43.46
- Stop: 45.13
- Target: 43.40
- Pattern: Expansion Bar
- Western Union Co. (WU)
- Direction: Short
- Entry: 16.70
- Stop: 17.16
- Target: 16.57
- Pattern: Expansion Bar
Previous Trades Update:
Many of our trades triggered on August 1st. If you have not already closed it then modify the stops and target levels.
- AEM (short) – modify stop to 37.92 and target to 36.85
- CFN (short) – update stop to 43.96 and target 43.36
- HST (short) – modify stop to 21.91 and target to 21.55
- IJR (short) – modify stop to 106.42 and target to 104.67
- KBE (short) – modify stop to 32.01 and target to 31.25
- PWR (short) – modify stop to 34.23 and target to 33.33
- SIAL (short) – modify stop to 100.91 and target to 99.83
- Trades that hit the target
- SPXS ((long) returned 1.2% gain
- ADSK (short) gave 1.0% gain
- BKS (short) returned 1.0% gain
- CRZO (short) closed with 1.0% gain
- FAS (short) returned 1.0%
- GES (short) returned 1.0%
- IJH (short) returned 0.6%
- IWM (short) returned 1.0%
- MDY (short) returned 0.6%
- NAV (short) returned 1.0%
- NBR (short) returned 1.0%
- OKE (short) returned 0.4%
- PAY (short) returned 1.0%
- SE (short) returned 1.0%
- SSO (short) returned 1.0%
- SSYS (short) returned 1.0%
- SVXY (short) returned 1.0%
- UBNT (short) lost 2.7%
- UPRO (short) returned 1.0%
- XIV (short) returned 1.0%
Trades triggered on July 31st:
- HIG (short) closed with 1.6% gain
- WMB (short) returned 2.9% gain
- XOP (short) returned 4.9% 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
