Daily Trader: Trading Ideas For September 4th

Here are some trade setups for our Daily Trader portfolio for Thursday September 4th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

1. Leucadia National Corp. (LUK)
   • Direction: Long
   • Entry: 25.61
   • Stop: 24.90
   • Target: 26.25
   • Pattern: Expansion Candle / Resistance Break / Channel Break

   

2. YPFSociedadAnonima. (YPF)
   • Direction: Long
   • Entry: 36.01
   • Stop: 34.40
   • Target: 37.94
   • Pattern: Expansion Bar

   

3. Newpark Resources, Inc. (NR)
   • Direction: Short
   • Entry: 11.96
   • Stop: 12.41
   • Target: 11.70
   • Pattern: Expansion Bar

   

4. Sohu Com Inc. (SOHU)
   • Direction: Short
   • Entry: 56.35
   • Stop: 57.72
   • Target: 55.29
   • Pattern: Expansion Bar

   

5. First Solar Inc. (FSLR)
   • Direction: Long
   • Entry: 72.45
   • Stop: 70.42
   • Target: 74.59
   • Pattern: Expansion Bar / Potential Resistance Break

   

6. Carrizo Oil & Gas Inc (CRZO)
   • Direction: Short
   • Entry: 60.60
   • Stop: 62.69
   • Target: 59.40 – initial target
   • Pattern: Bear Flag

   

7. Theravance Inc. (THRX)
   • Direction: Short
   • Entry: 21.70
   • Stop: 22.53
   • Target: 21.16
   • Pattern: Expansion Bar / Bear Flag

   

Previous Trades Update:

Eleven of our setups were triggered on September 3rd.

• ACXM (long) – adjust the stop to 18.93 and target to 19.32
• CA (long) – modify stop to 28.54 and target to 29.27
• EXPE (long) – adjust stop to 87.94 and target to 89.26
• RAX (long) – modify stop to 35.23 and target at 38.15
• ZLTQ (long) – adjust the stop to 22.73 and target to 24.54
• CLD (short) – adjust the stop to 14.55 and target to 13.95
• GRMN (short) – adjust the stop to 54.96 and initial target to 52.28
• GEVA (short) – adjust the stop to 70.70 and initial target to 67.56
• SIMO (long) – maintain stop at 26.78 and target to 28.17
• SKX (long) stopped for 2.0% loss
• XPO (long) stopped for 2.1% loss

Trades Triggered on September 2nd:

• CNSL (long) stopped for 1.5% loss
• MTW (long) stopped for 1.2% loss
• TQNT (long) stopped for 2.7% loss
• TTWO (long) stopped for 2.6% 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 51.95 and the initial target at 52.80
• NDLS (short) – We hit the initial target at 18.40. Adjust the stop to 18.90 and the initial target at 16.75
• BCEI (long) – adjust the stop to 59.46 and target to 62.64

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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