Daily Trader: Trade Ideas For July 30th 2014

Our Daily Trader portfolio scan generated following trade ideas for July 30th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days.

  1. Honda Motor Co. Ltd. (HMC)
    • Direction: Long
    • Entry: 36.12
    • Stop: 35.46
    • Target: 36.98
    • Pattern: Potential Resistance Break / Expanding Candle
  2. Pharmacyclics, Inc. (PCYC)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30 minute candle) break
    • Stop: 123.76 or below OEB
    • Target: 130.79
    • Pattern: Gap Up / Expansion Bar / Resistance Break
  3. Wynn Resorts Ltd. (WYNN)
    • Direction: Long
    • Entry: 13.45
    • Stop: 13.97
    • Target: 13.32
    • Pattern: Expansion Bar
  4. CNO Financial Group Inc. (CNO)
    • Direction: Short
    • Entry: 16.62 or ORB (Opening Range Bar – first 30 minute candle) breakdown
    • Stop: 17.13
    • Target: 16.22
    • Pattern: Support Break
  5. Canadian Solar Inc. (CSIQ)
    • Direction: Short
    • Entry: 25.89 or ORB (Opening Range Bar – first 30 minute candle) breakdown
    • Stop: 27.17
    • Target: 23.35
    • Pattern: Expansion Bar
  6. Entegris, Inc. (ENTG)
    • Direction: Short
    • Entry: 11.60
    • Stop: 12.14
    • Target: 11.48
    • Pattern: Expansion Bar / Outside Candle
  7. Manitowoc Co, Inc. (MTW)
    • Direction: Short
    • Entry: 30.14
    • Stop: 31.19
    • Target: 29.15
    • Pattern: Expansion Bar / Previous Gap Fill

Previous Trades Update:

Only one of our trades triggered on July 29th. If you have not already closed them then modify the stops and target levels.

  • HDS (short) – modify stop to 26.65 and target to 25.67

Trades triggered on July 28th:

  • SWK (long) closed with 0.9% loss
  • THC (long) closed with 1.0% gain
  • MNK (short) returned 1.7% gain
  • PEGI (short) closed up 0.8% gain
  • TPX (short) returned 2.4% 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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