Here are some trade setups for our Daily Trader portfolio for Non-Farm Pay-roll Friday September 5th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- Costco Wholesale Corp. (COST)
- Direction: Long
- Entry: 125.27
- Stop: 123.94
- Target: 126.95
- Pattern: Expansion Candle / Gap Up / Resistance Break
- Direxion Daily Gold Miners Bear 3x Shares (DUST)
- Direction: Long
- Entry: 18.69
- Stop: 18.20
- Target: 19.70
- Pattern: Expansion Candle / Channel Break Out
- Fastenal Co. (FAST)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle)
- Stop: 46.60
- Target: 48.55
- Pattern: Expansion Candle / Potential Resistance Break
- Sapient Corp. (SAPE)
- Direction: Long
- Entry: 15.51
- Stop: 15.10
- Target: 16.00
- Pattern: Expansion Bar
- Starwood Property Trust Inc. (STWD)
- Direction: Long
- Entry: 24.10
- Stop: 23.65
- Target: 24.50
- Pattern: Expansion Bar / Resistance Break
- Sohu Com Inc (SOHU)
- Direction: Short
- Entry: 56.34
- Stop: 57.28
- Target: 54.16
- Pattern: Expansion Bar + Day 1
- Englobal Corp. (EGN)
- Direction: Short
- Entry: 73.24
- Stop: 74.91
- Target: 71.13 – initial target
- Pattern: Expansion Bar / Support Break
- FrancoNeveda Corp. (FNV)
- Direction: Short
- Entry: 54.39
- Stop: 55.34
- Target: 52.95
- Pattern: Expansion Bar / Short Bear Flag / Support Break
- Lannet Inc. (LCI)
- Direction: Short
- Entry: 37.44
- Stop: 38.96
- Target: 35.10
- Pattern: Expansion Bar
Previous Trades Update:
Seven of our setups were triggered on September 4th.
- LUK (long) – adjust stop to 25.49 and target to 26.20
- YPF (long) – modify stop to 34.78 and target at 36.14
- NR (short) – adjust the stop to 12.27 and target to 11.58
- FSLR (short) – adjust the stop to 71.25 and target to 73.50
- THRX (short) – modify the stop to 22.27 and target to 20.20
Trades Triggered on September 3th:
- ACXM (long) hit the adjusted target for 0.5% gain
- CA (long) hit the adjusted target for 1.6% gain
- EXPE (long) stopped for 0.6% loss
- RAX (long) closed for 3.8% gain
- SIMO (long) hit the adjusted target for 0.6% gain
- ZLTQ (long) closed for 1.8% loss
- CLD (short) stopped for 3.0% loss
Prior Trades:
- CRZO (short) – hit the initial target for 2.1% gain. Adjust the stop 59.60 and cover all at 50.79
- GEVA (short) – our initial target of 67.56 was hit for 2.6% gain. Adjust stop to 67.76 and cover the full position at 63.53
- GRMN (short) – adjust the stop to breakeven to 53.45 and maintain initial target at 52.28
- QIWI (short) – maintain the stop at 39.10 and initial target at 35.96
- C (long). Our initial target was hit. Adjust the stop to 52.07 and target to 55.67
- NDLS (short) – Our initial target of 18.40 was hit earlier. Adjust the stop to 18.28 and the cover all at 16.75
- BCEI (long) stopped out for 3.9% 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
