Market Remarks

Daily Trader: Trading Ideas For July 28th, 2014

Following are our trade ideas for Monday July 25th in our Daily Trader portfolio.These are short-term trade ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Spansion Inc. (CODE)
    • Direction: Short
    • Entry: 19.75
    • Stop: 21.41
    • Target: 19.10
    • Pattern: Expansion Candle / Ascending Triangle Down Break
  2. Mallinckrodtplc (MNK)
    • Direction: Short
    • Entry: 73.69 or ORB (Opening Range Bar – first 30 minute candle) break down
    • Stop: 75.36 or above the ORB
    • Target: 72.95
    • Pattern: Bear Flag
  3. Pattern Energy Group Inc. (PEGI)
    • Direction: Short
    • Entry: 31.60
    • Stop: 32.50
    • Target: 31.28
    • Pattern: Double Top / Expansion Bar
  4. Tempur-PedicIntl Inc. (TPX)
    • Direction: Short
    • Entry: 55.57
    • Stop: 56.65
    • Target: 53.37
    • Pattern: Gap Down / Expansion Candle
  5. Ctrip.com Intl Ltd. (CTRP)
    • Direction: Long
    • Entry: 67.33
    • Stop: 65.42
    • Target: 70.02
    • Pattern: Expansion Bar / Horizontal Channel Up Break
  6. Golar LNG Ltd. (GLNG)
    • Direction: Long
    • Entry: 63.04
    • Stop: 61.39
    • Target: 65.56
    • Pattern: Horizontal Channel Break Up / Expansion Candle
  7. Mellanox Technologies Ltd. (MLNX)
    • Direction: Long
    • Entry: 44.50
    • Stop: 42.75
    • Target: 46.35
    • Pattern: Expansion Candle / Down Trend Line Up Break
  8. SolarWinds Inc.(SWI)
    • Direction: Long
    • Entry: 44.57
    • Stop: 42.75
    • Target: 45.31
    • Pattern: Expansion Candle / Breakout Gap
  9. Stanley Black & Decker Inc.(SWK)
    • Direction: Long
    • Entry: 91.07
    • Stop: 90.22
    • Target: 92.51
    • Pattern: Expansion Candle / Horizontal Channel Up Break
  10. Tenet Healthcare Corp. (THC)
    • Direction: Long
    • Entry: 53.97
    • Stop: 51.24
    • Target: 56.13
    • Pattern: Horizontal Channel Up Break / Expansion Candle
  11. YY Inc. (YY)
    • Direction: Long
    • Entry: 79.99
    • Stop: 76.39
    • Target: 81.29
    • Pattern: Expansion Candle

Previous Trades Update:

Some of our trades triggered on July 25th. If you have not already closed them then modify the stops and target levels.

  • RKUS (long) – modify stop to 12.11 and target to 12.54
  • UA (long) – update stop to 67.50 and target to 70.49
  • CMI (short) – modify stop to 161.35 and target to 143.10
  • CCI (short) – update stop to 74.31 and target to 72.83
  • ITB (short) – update stop to 23.31 and target to 22.84
  • LEN (short) – modify stop to 39.12 and target to 38.07
  • PHM (short) – change stop to 19.14 and target to 18.60
  • TOL (short) – modify stop to 34.47 and target to 33.51
  • TER (short) hit the target with 0.8% gain

Trades triggered on July 24th:

  • WHR (long) closed up with 2.3% gain
  • ADI (short) closed with 0.9% gain
  • FSL (short) closed with 4.9% gain due to a gap down open
  • LLTC (short) gained 1.4%
  • MON (short) lost 0.3%
  • MXIM (short) gapped down and closed with 16.2% gain
  • THRX (short) closed with 1.4% gain

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
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