Daily Trader: Trade Ideas For July 29th 2014

Our Daily Trader portfolio scan generated following trade ideas for July 29th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days.

  1. Duke Energy Corp. (DUK)
    • Direction: Long
    • Entry: 74.58
    • Stop: 73.74
    • Target: 77.56
    • Pattern: Expanding Candle
  2. HD Supply Holdings, Inc. (HDS)
    • Direction: Short
    • Entry: 25.76 or ORB (Opening Range Bar – first 30 minute candle) breakdown
    • Stop: 26.99
    • Target: 25.52
    • Pattern: Expansion Bar / Support Break
  3. OldNationalBancorp. (ONB)
    • Direction: Short
    • Entry: 13.45
    • Stop: 13.97
    • Target: 13.32
    • Pattern: Support Breakdown

Previous Trades Update:

Some of our trades triggered on July 28th. If you have not already closed them then modify the stops and target levels.

  • SWK (long) – modify stop to 90.29 and target to 91.25
  • THC (long) – update stop to 53.12 and target to 54.50
  • MNK (short) – modify stop to 74.99 and target to 72.49
  • PEGI (short) – update stop to 32.37 and target to 31.34
  • TPX (short) – update stop to 55.83 and target to 54.16
  • YY (long) hit the target with 1.6% gain

Trades triggered on July 25th:

  • RKUS (long) closed up with 1.0% gain
  • UA (long) lost 1.0%
  • CMI (short) closed up with 3.5% gain
  • CCI (short) lost 1.2%
  • ITB (short) gained 1.8%
  • LEN (short) returned 2.3%
  • PHM (short) closed with 2.6% gain
  • TOL (short) returned 2.2%

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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