Daily Trader: Trading Ideas For September 2nd

/ September 1, 2014

Our Daily Trader portfolio scan generated quite a few trade setups for Tuesday September 2nd, 2014. Historically 56% of trade setups triggered. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Consolidated Communications Holdings Inc. (CNSL)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 24.08 or Below ORB
    • Target: 25.49
    • Pattern: Expansion Candle / Resistance Break / All Time High

    CNSL_140829

  2. Criteo SA (CRTO)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 36.00 or Below ORB
    • Target: 39.20
    • Pattern: Expansion Candle / Gap Up

    CRTO_140829

  3. Manitowoc Co, Inc. (MTW)
    • Direction: Long
    • Entry: 29.59
    • Stop: 29.05
    • Target: 30.30
    • Pattern: Expansion Candle / Resistance Break

    MTW_140829

  4. TriQuint Semiconductor, Inc. (TQNT)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 20.36 or Below ORB
    • Target: 21.72
    • Pattern: Expansion Bar / Channel Break Out / All Time High

    TQNT_140829

  5. Take-Two Interactive Software, Inc. (TTWO)
    • Direction: Long
    • Entry: 23.76
    • Stop: 23.05
    • Target: 24.50
    • Pattern: Expansion Bar

    TTWO_140829

  6. United Therapeutics Corp. (UTHR)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 114.72 or Below ORB
    • Target: 123.61
    • Pattern: Expansion Bar / Resistance Break

    UTHR_140829

  7. Veeva Systems Inc. (VEEV)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 29.05
    • Target: 31.38
    • Pattern: Expansion Bar / Gap Up / Resistance Break

    VEEV_140829

  8. Telefonica Brasil SA  (VIV)
    • Direction: Long
    • Entry: 21.65
    • Stop: 20.83
    • Target: 22.52
    • Pattern: Expansion Bar / Gap Up

    VIV_140829

  9. Tableau Software Inc. (DATA)
    • Direction: Long
    • Entry: 65.77
    • Stop: 63.64
    • Target: 67.65
    • Pattern: Expansion Bar / Descending Triangle Break Up

    DATA_140829

  10. Bonanza Creek Energy Inc. (BCEI)
    • Direction: Long
    • Entry: 61.85
    • Stop: 60.23
    • Target: 63.15
    • Pattern: Expansion Bar / Ascending Triangle Break Up

    BCEI_140829

  11. Centene Corp. (CNC)
    • Direction: Long
    • Entry: 78.62
    • Stop: 77.29
    • Target: 80.42
    • Pattern: Expansion Bar Day + 1 / Gapfill

    CNC_140829

  12. Tesco PLC. (TSCDY)
    • Direction: Short
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break Down
    • Stop: 11.67 or Above the ORB
    • Target: 11.09
    • Pattern: Expansion Bar / Gap Down / Support Break

    TSCDY_140829

  13. Vipshop Holdings Ltd. (VIPS)
    • Direction: Short
    • Entry: 193.26
    • Stop: 195.62
    • Target: 191.77
    • Pattern: Expansion Bar / Support Break / Head & Shoulder (uneven)

    VIPS_140829

  14. Under Armour Inc. (UA)
    • Direction: Short
    • Entry: 68.04
    • Stop: 69.21
    • Target: 66.53
    • Pattern: Expansion Bar / Outside Day / Ascending Triangle Break Down

    UA_140829

  15. VaronisSys Inc. (VRNS)
    • Direction: Long
    • Entry: 24.26
    • Stop: 22.55
    • Target: 25.75
    • Pattern: Expansion Bar / 50D EMA Break Up

    VRNS_140829

  16. Achillion Pharmaceuticals Inc. (ACHN)
    • Direction: Long
    • Entry: 11.70
    • Stop: 11.10
    • Target: 12.95
    • Pattern: Pennant Flag / NR7

    ACHN2_140829

Previous Trades Update:

Four of our trades were triggered on August 29th.

  • QIWI (short) – maintain the stop at 39.10 and initial target to 35.96. We will carry this trade to next day is none of these levels are hit
  • VGR (long) – maintain stop at 23.38 and update target to 24.21
  • WOOF (long) – maintain the stop at 40.33 and update target to 41.64
  • HCLP (long) hit the target for 2.4% gain

Trades Triggered on August 28th:

  • HE (long) closed for a gain of 0.4%

Prior Trades:

  • C (long) – Continue to maintain the stop at 51.21 and the target at 53.30. After coming close to our stop on August 28th, Citi is turning around. A break above 51.83 will make a short term bull-flag on 30-minute chart
  • NDLS (short) – maintain the stop at 20.29 and the initial target at 18.40. It is sitting at a support level.
  • LO (short) – maintain stop at 59.81 and initial target to 57.40. Lorillard gapped down and broke below a horizontal channel on August 27th. Now it is trying to get back into the channel, threatening our stop
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
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