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.
- Air Products and Chemicals, Inc. (APD)
- Direction: Long
- Entry: 136.41
- Stop: 134.83
- Target: 141.50
- Pattern: Expansion Candle / Resistance Break Out
- Hawaiian Airlines, Inc. (HA)
- Direction: Long
- Entry: 14.90
- Stop: 14.37
- Target: 15.70
- Pattern: Gap Up / Expansion Candle
- Intuitive Surgical, Inc. (ISRG)
- Direction: Long
- Entry: 463.49
- Stop: 454.50
- Target: 482.03
- Pattern: Gap Up / Expansion Candle
- RPC, Inc. (RES)
- Direction: Long
- Entry: 25.25
- Stop: 24.45
- Target: 26.26
- Pattern: Resistance Break Out / Expansion Candle
- SEI Investments Co. (SEIC)
- Direction: Long
- Entry: 34.65
- Stop: 33.03
- Target: 36.04
- Pattern: Down Trend Line Break / Resistance Break Out / Expansion Candle
- Talisman Energy, Inc. (TLM)
- Direction: Long
- Entry: 11.32
- Stop: 10.74
- Target: 11.77
- Pattern: Gap Up / Expansion Candle
- Whirlpool Corp. (WHR)
- Direction: Long
- Entry: 145.44
- Stop: 142.84
- Target: 151.26
- Pattern: Reversal Candle / Expansion Candle
- Analog Devices, Inc. (ADI)
- Direction: Short
- Entry: 51.15
- Stop: 52.30
- Target: 50.64
- Pattern: Support Break Down / Expansion Candle
- Dick’s Sporting Goods Inc. (DKS)
- Direction: Short
- Entry: 42.48
- Stop: 43.19
- Target: 42.06
- Pattern: Expansion Candle
- Freescale Semiconductor Inc. (FSL)
- Direction: Short
- Entry: 22.45
- Stop: 23.44
- Target: 20.91
- Pattern: Potential Support Break / Expansion Candle
- Integrated Device Technology, Inc. (IDTI)
- Direction: Short
- Entry: 13.59
- Stop: 14.05
- Target: 13.30
- Pattern: Support Break / Expansion Candle
- Kraft Foods Group, Inc. (KRFT)
- Direction: Short
- Entry: 58.00
- Stop: 59.00
- Target: 57.00
- Pattern: Support Break / Expansion Candle
- Linear Technology Corp. (LLTC)
- Direction: Short
- Entry: 44.80
- Stop: 45.94
- Target: 43.64
- Pattern: Gap Down / Expansion Candle
- Microchip Technology Inc. (MCHP)
- Direction: Short
- Entry: 46.99
- Stop: 48.00
- Target: 46.52
- Pattern: Support Break / Expansion Candle
- Monsanto Co. (MON)
- Direction: Short
- Entry: 116.10
- Stop: 117.43
- Target: 115.25
- Pattern: Support Break / Expansion Candle
- Maxim Integrated Products, Inc. (MXIM)
- Direction: Short
- Entry: 32.83
- Stop: 33.50
- Target: 31.59
- Pattern: Support Break / Expansion Candle
- Silicon Laboratories, Inc. (SLAB)
- Direction: Short
- Entry: 46.19
- Stop: 47.05
- Target: 45.73
- Pattern: Support Break / Expansion Candle
- Theravance Inc. (THRX)
- Direction: Short
- Entry: 25.15
- Stop: 24.60
- Target: 22.51
- Pattern: Gap Down / Support Break / Expansion Candle
Previous Trades Update:
Three of our trades triggered on July 23rd. If you have not already closed them then modify the stops and target levels.
- STT (long) – modify stop to 69.94 and target to 70.39
- AAP (short) – update stop to 124.93 and target to 122.94
- COL (short) – modify stop to 55.59 and target to 53.24
- MWV (short) – update stop to 43.58 and target to 42.68
- ORLY (short) – update stop to 147.01 and target to 145.15
- CCK (short) closed for a gain of 1.2%
- TFM (short) closed for a gain of 1.0%
Trades triggered on July 22nd:
- EMC (long) closed for 1.4% gain
- OZM (long) closed for 2.1% 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
