Here are some trade setups for our Daily Trader portfolio for Monday September 8th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- Comcast Corp. (CMCSA)
- Direction: Long
- Entry: 55.89
- Stop: 54.68
- Target: 56.45
- Pattern: Expansion Candle / Resistance Break
- WisdomTree India Earnings Fund (EPI)
- Direction: Long
- Entry: 23.67
- Stop: 23.17
- Target: 24.40
- Pattern: Expansion Candle / Channel Break Out
- Fulton Financial Corp. (FULT)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle)
- Stop: 11.51
- Target: 11.98
- Pattern: Expansion Candle / Potential Resistance Break
- Harley Davidson Inc. (HOG)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle)
- Stop: 64.85
- Target: 66.60
- Pattern: Expansion Bar / Resistance Break
- Jazz Pharmaceuticals, Inc. (JAZZ)
- Direction: Long
- Entry: 168.98
- Stop: 161.38
- Target: 170.40
- Pattern: Expansion Bar / Resistance Break
- Nike Inc. (NKE)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle)
- Stop: 80.72
- Target: 83.70
- Pattern: Expansion Bar / Resistance Break / All Time High
- Fresh Market Inc. (TFM)
- Direction: Long
- Entry: 35.92
- Stop: 34.97
- Target: 37.72
- Pattern: Expansion Bar / Resistance Break
- Energen Corp. (EGN)
- Direction: Short
- Entry: 74.19 or ORB (Opening Break Bar – first 30-minute trading candle)
- Stop: 76.41
- Target: 73.45
- Pattern: Expansion Bar + Day 1
- Workday Inc. (WDAY)
- Direction: Long
- Entry: 90.96
- Stop: 87.43
- Target: 92.05
- Pattern: Potential Resistance Break / Ascending Triangle Break
- Palo Alto Networks Inc. (PANW)
- Direction: Long
- Entry: 89.26
- Stop: 86.60
- Target: 92.45
- Pattern: Ascending Triangle Break
- ServiceNow Inc. (NOW)
- Direction: Long
- Entry: 62.78
- Stop: 60.43
- Target: 64.36 – initial target
- Pattern: Channel upper Limit Test
- ElPolloLocoHldgs Inc. (LOCO)
- Direction: Long
- Entry: 35.50
- Stop: 38.42
- Target: 39.90 – initial target
- Pattern: Cup & Handle
Previous Trades Update:
Five of our setups were triggered on September 5th.
- COST (long) hit the target for 1.3% gain
- DUST (long) – adjust the stop to 18.00 and target to 19.70
- SOHU (short) – modify the stop to 56.72 and target to 55.36
- LCI (short) – adjust stop to 38.74 and target to 37.91
Trades Triggered on September 4th:
- FSLR (short) closed for 1.7% loss
- NR (short) closed for 0.4% gain
- YPF (long) stopped for 3.5% loss
- LUK (long) hit the target for 2.3% gain
Prior Trades:
- THRX (short) – Update the stop to breakeven at 21.70 and keep the initial target at 20.20
- CRZO (short) – hit the initial target for 2.1% gain. Keep the adjusted stop at 59.60 and cover all at 50.79
- GEVA (short) – our initial target of 67.56 was hit for 2.6% gain. Our second piece was stopped at 67.76 in the early morning spike for 2.3% gain
- GRMN (short) hit the initial target of 52.28 for 2.2% gain. Maintain the stop for second piece at 53.45 and target at 49.96
- QIWI (short) was stopped for 4% loss
- C (long) – the second piece was stopped at 52.07 for 1.5% gain
- NDLS (short) – Our initial target of 18.40 was hit earlier. Move the stop to 17.75 and look to cover all at 16.75
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
