Following are our trade ideas for our Daily Trader portfolio for Thursday July 24th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- CA Inc. (CA)
- Direction: Long
- Entry: 29.81
- Stop: 29.22
- Target: 31.00
- Pattern: Expansion Candle / Resistance Break Out
- Medical Properties Trust Inc. (MPW)
- Direction: Long
- Entry: 13.58
- Stop: 13.20
- Target: 14.12
- Pattern: Resistance Break / Expansion Candle
- Ruckus Wireless Inc. (RKUS)
- Direction: Long
- Entry: 12.41
- Stop: 12.01
- Target: 12.91
- Pattern: Resistance Break / Expansion Candle
- Starbucks Corp. (SBUX)
- Direction: Long
- Entry: 80.74
- Stop: 79.81
- Target: 83.97
- Pattern: Resistance Break Out / Expansion Candle
- Under Armour, Inc. (UA)
- Direction: Long
- Entry: 70.35
- Stop: 67.60
- Target: 70.85
- Pattern: Gap Up / Resistance Break Out / Expansion Candle
- Cummins Inc. (CMI)
- Direction: Short
- Entry: 150.48
- Stop: 152.39
- Target: 147.25
- Pattern: Support Break / Expansion Candle
- CrownCastleIntl Corp. (CCI)
- Direction: Short
- Entry: 73.39
- Stop: 74.39
- Target: 72.66
- Pattern: Potential Support Break / Expansion Candle
- Starwood Hotels & Resorts Worldwide Inc. (HOT)
- Direction: Short
- Entry: 78.67
- Stop: 80.46
- Target: 77.88
- Pattern: Support Break Down / Expansion Candle
- iShares Dow Jones U.S. Home Construction(ITB)
- Direction: Short
- Entry: 23.24
- Stop: 23.57
- Target: 22.84
- Pattern: Expansion Candle
- Lennar Corp. (LEN)
- Direction: Short
- Entry: 38.95
- Stop: 39.53
- Target: 37.57
- Pattern: Expansion Candle
- PulteGroup, Inc. (PHM)
- Direction: Short
- Entry: 19.08
- Stop: 19.56
- Target: 18.63
- Pattern: Expansion Candle
- Toll Brothers, Inc. (TOL)
- Direction: Short
- Entry: 34.24
- Stop: 34.90
- Target: 33.51
- Pattern: Support Break / Expansion Candle
- Teradyne, Inc. (TER)
- Direction: Short
- Entry: 17.96
- Stop: 18.46
- Target: 17.81
- Pattern: Expansion Candle
Previous Trades Update:
Three of our trades triggered on July 24th. If you have not already closed them then modify the stops and target levels.
- WHR (long) – modify stop to 144.30 and target to 148.80
- ADI (short) – update stop to 51.64 and target to 50.68
- FSL (short) – modify stop to 23.34 and target to 21.92
- LLTC (short) – update stop to 45.20 and target to 44.17
- MXIM (short) – update stop to 33.16 and target to 32.68
- THRX (short) – modify stop to 24.50 and target to 23.40
- APD (long) stopped for 0.9% loss
- ISRG (long) hit the target for 3.8% gained
Trades triggered on July 23rd:
- STT (long) closed with 0.1% gain
- AAP (short) lost 0.9%
- COL (short) gained 0.5%
- DDD (short) gained 0.8%
- MWV (short) lost 1.4%
- OLRY (short) gapped up and lost 5.0%
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
