Market Remarks

Daily Trader: Trading Ideas For September 3rd

Sunil Sharma

Our Daily Trader portfolio scan generated following trade setups for Wednesday September 3rd, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Acxiom Corp. (ACXM)
    • Direction: Long
    • Entry: 19.23
    • Stop: 18.66
    • Target: 20.00
    • Pattern: Expansion Candle

    ACXM_140902

  2. Air Lease Corp. (AL)
    • Direction: Long
    • Entry: 39.10
    • Stop: 38.23
    • Target: 40.50
    • Pattern: Expansion Candle

  3. Alaska Air Group, Inc. (ALK)
    • Direction: Long
    • Entry: 48.35
    • Stop: 47.45
    • Target: 49.66
    • Pattern: Expansion Candle / Resistance Break

  4. Baidu, Inc. (BIDU)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – 30-minute candle) Break Up
    • Stop: 219.55
    • Target: 232.99
    • Pattern: Expansion Bar / Channel Break Out

  5. CA Inc. (CA)
    • Direction: Long
    • Entry: 28.79
    • Stop: 28.20
    • Target: 29.53
    • Pattern: Expansion Bar

  6. Canadian Solar Inc. (CSIQ)
    • Direction: Long
    • Entry: 38.52
    • Stop: 37.19
    • Target: 41.12
    • Pattern: Expansion Bar / Resistance Break

  7. Expedia, Inc. (EXPE)
    • Direction: Long
    • Entry: 88.44
    • Stop: 87.36
    • Target: 91.98
    • Pattern: Expansion Bar / Resistance Break

  8. Novartis A G (NVS)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – 30-minute candle) Break Up
    • Stop: 92.37
    • Target: 97.57
    • Pattern: Expansion Bar / Gap Up

  9. Palo Alto Networks Inc. (PANW)
    • Direction: Long
    • Entry: 90.10
    • Stop: 87.12
    • Target: 93.70
    • Pattern: Expansion Bar / Ascending Triangle Break Up

  10. Pinnacle Foods Inc. (PF)
    • Direction: Long
    • Entry: 33.04
    • Stop: 21.05
    • Target: 34.33
    • Pattern: Expansion Bar / Resistance Break Up

  11. Rackspace Hosting Inc. (RAX)
    • Direction: Long
    • Entry: 35.78
    • Stop: 34.55
    • Target: 38.15
    • Pattern: Expansion Bar

  12. Silicon Motion Technology Corp. ADS (SIMO)
    • Direction: Long
    • Entry: 28.00
    • Stop: 26.78
    • Target: 28.75
    • Pattern: Expansion Bar / Resistance Break

  13. SkechersUsa, Inc. (SKX)
    • Direction: Long
    • Entry: 61.57
    • Stop: 60.35
    • Target: 62.75
    • Pattern: Expansion Bar / Resistance Break

  14. TASERIntl Inc. (TASR)
    • Direction: Long
    • Entry: 17.80
    • Stop: 17.13
    • Target: 18.50
    • Pattern: Expansion Bar / Resistance Break

  15. Express-1 Expedited Solutions, Inc. (XPO)
    • Direction: Long
    • Entry: 32.58
    • Stop: 31.92
    • Target: 33.35
    • Pattern: Expansion Bar / Triangle Break Up

  16. Zeltiq Aesthetics Inc. (ZLTQ)
    • Direction: Long
    • Entry: 23.47
    • Stop: 22.67
    • Target: 24.54
    • Pattern: Expansion Bar / Resistance Break

  17. Garmin Ltd. (GRMN)
    • Direction: Short
    • Entry: 53.41
    • Stop: 54.96
    • Target: 50.57
    • Pattern: Expansion Bar / Support Break

  18. SynogevaBiopharma. (GEVA)
    • Direction: Short
    • Entry: 69.29
    • Stop: 71.01
    • Target: 66.96
    • Pattern: Expansion Bar / Support Break

  19. Cloud Peak Energy Inc. (CLD)
    • Direction: Short
    • Entry: 14.11
    • Stop: 14.67
    • Target: 13.70
    • Pattern: Expansion Bar / Potential Support Break

  20. Conn’s, Inc. (CONN)
    • Direction: Short
    • Entry: ORB (Opening Range Bar – 30-minute candle) Break Down
    • Stop: 33.86
    • Target: 30.48
    • Pattern: Expansion Bar / Gap Down

  21. Carrizo Oil & Gas Inc (CRZO)
    • Direction: Short
    • Entry: 60.70
    • Stop: 62.70
    • Target: 58.70
    • Pattern: Expansion Bar / Bear Flag

Previous Trades Update:

Seven of our trades were triggered on September 2nd.

  • CNSL (long) – adjust the stop to 24.19 and target to 24.67
  • MTW (long) – modify stop to 29.25 and target to 29.89
  • TQNT (long) – adjust stop to 20.46 and target to 21.16
  • TTWO (long) – modify stop to 23.15 and target at 23.92
  • BCEI (long) – adjust the stop to 59.46 and target to 62.64
  • VIPS (short) stopped for 2.4% loss
  • DATA (long) hit the target for 2.8% gain

Trades Triggered on August 29th:

  • WOOF (long) closed for 1.1% loss
  • VGR (long) closed for 0.3% loss

Prior Trades:

  • QIWI (short) – maintain the stop at 39.10 and initial target at 35.96
  • C (long) – Continue to maintain the stop at 51.21 and the target at 53.30
  • NDLS (short) – Adjust the stop to break even at 19.40 and the initial target at 18.40
  • LO (short) – stopped out for 1.7% loss
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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