Daily Trader: Trade Ideas For August 1st 2014

Our Daily Trader portfolio scan generated following trade ideas for August 1st, 2014. Market had a pretty big down day so all of our opportunities are on the short side. These are short-term trading ideas that are normally closed either the same day or in next few days.

  1. Direxion Daily S&P 500Bear3X Shares (SPXS)
    • Direction: Long
    • Entry: 27.00
    • Stop: 26.18
    • Target: 27.33
    • Pattern: Gap Up / Expanding Candle
  2. Autodesk, Inc. (ADSK)
    • Direction: Short
    • Entry: 53.11
    • Stop: 54.08
    • Target: 52.58
    • Pattern: Expansion Bar
  3. Agnico Eagle Mines Ltd. (AEM)
    • Direction: Short
    • Entry: 37.26
    • Stop: 38.07
    • Target: 36.85
    • Pattern: Support Break / Expansion Bar / Gap Down
  4. Astrazeneca PLC. (AZN)
    • Direction: Short
    • Entry: 72.51
    • Stop: 73.34
    • Target: 71.78
    • Pattern: Expansion Bar
  5. Barnes & Noble, Inc. (BKS)
    • Direction: Short
    • Entry: 20.76
    • Stop: 21.33
    • Target: 20.55
    • Pattern: Expansion Bar / Support Break
  6. Blackrock, Inc. (BLK)
    • Direction: Short
    • Entry: 304.67
    • Stop: 309.25
    • Target: 301.62
    • Pattern: Gap Down / Support Break / Expansion Bar
  7. CareFusion Corp. (CFN)
    • Direction: Short
    • Entry: 43.66
    • Stop: 44.38
    • Target: 43.22
    • Pattern: Support Break / Expansion Bar
  8. Carrizo Oil & Gas, Inc. (CRZO)
    • Direction: Short
    • Entry: 60.89
    • Stop: 62.87
    • Target: 60.28
    • Pattern: Expansion Bar
  9. DiamondRock Hospitality Co. (DRH)
    • Direction: Short
    • Entry: 12.09
    • Stop: 12.49
    • Target: 11.97
    • Pattern: Expansion Bar / Support Break / Gap Down
  10. EOG Resources, Inc. (EOG)
    • Direction: Short
    • Entry: 109.31
    • Stop: 111.66
    • Target: 108.22
    • Pattern: Expansion Bar / Support Break / Gap Down
  11. Direxion Daily Financial Bull 3x Shares (FAS)
    • Direction: Short
    • Entry: 95.46
    • Stop: 97.65
    • Target: 94.51
    • Pattern: Expansion Bar / Support Break / Gap Down
  12. Guess ?, Inc. (GES)
    • Direction: Short
    • Entry: 25.91
    • Stop: 26.44
    • Target: 25.65
    • Pattern: Expansion Bar
  13. Host Hotels & Resorts Inc. (HST)
    • Direction: Short
    • Entry: 21.68
    • Stop: 22.16
    • Target: 21.46
    • Pattern: Expansion Bar / Support Break / Gap Down
  14. iShares Core S&P Mid-Cap (IJH)
    • Direction: Short
    • Entry: 136.70
    • Stop: 137.80
    • Target: 135.90
    • Pattern: Expansion Bar / Support Break / Gap Down
  15. iShares Core S&P Small-Cap ETF (IJR)
    • Direction: Short
    • Entry: 105.80
    • Stop: 106.74
    • Target: 103.70
    • Pattern: Expansion Bar / Support Break / Gap Down
  16. Russell 2000 iShares (IWM)
    • Direction: Short
    • Entry: 110.99
    • Stop: 112.09
    • Target: 109.88
    • Pattern: Expansion Bar / Support Break / Gap Down
  17. SPDRKBW Bank Index ETF (KBE)
    • Direction: Short
    • Entry: 31.89
    • Stop: 32.24
    • Target: 31.57
    • Pattern: Expansion Bar
  18. Live Nation Entertainment, Inc. (LYV)
    • Direction: Short
    • Entry: 23.10
    • Stop: 23.58
    • Target: 2287
    • Pattern: Expansion Bar
  19. SPDR S&P MidCap 400 (MDY)
    • Direction: Short
    • Entry: 249.06
    • Stop: 251.76
    • Target: 247.58
    • Pattern: Expansion Bar / Support Break / Gap Down
  20. NavistarIntl Corp. (NAV)
    • Direction: Short
    • Entry: 34.24
    • Stop: 35.08
    • Target: 33.90
    • Pattern: Expansion Bar / Support Break
  21. Nabors Industries, Inc. (NBR)
    • Direction: Short
    • Entry: 27.09
    • Stop: 27.84
    • Target: 26.82
    • Pattern: Expansion Bar
  22. Oneok, Inc. (OKE)
    • Direction: Short
    • Entry: 64.00
    • Stop: 64.96
    • Target: 63.75
    • Pattern: Expansion Bar / Support Break
  23. VeriFone Systems Inc. (PAY)
    • Direction: Short
    • Entry: 33.41
    • Stop: 34.07
    • Target: 33.08
    • Pattern: Expansion Bar
  24. Pinnacle West Cap Corp. (PNW)
    • Direction: Short
    • Entry: 53.22
    • Stop: 53.90
    • Target: 52.69
    • Pattern: Expansion Bar
  25. Quanta Services, Inc. (PWR)
    • Direction: Short
    • Entry: 33.46
    • Stop: 34.37
    • Target: 33.13
    • Pattern: Reversal Candle / Up Trend Line Break / Expansion Bar
  26. Spectra Energy Corp. (SE)
    • Direction: Short
    • Entry: 40.85
    • Stop: 41.65
    • Target: 40.44
    • Pattern: Expansion Bar / Gap Down
  27. Swift Energy Co. (SFY)
    • Direction: Short
    • Entry: 10.80
    • Stop: 11.50
    • Target: 10.69
    • Pattern: Expansion Bar
  28. Sigma-Aldrich Corp. (SIAL)
    • Direction: Short
    • Entry: 100.27
    • Stop: 101.07
    • Target: 99.33
    • Pattern: Expansion Bar
  29. SpiritAeroSystems Holdings Inc. (SPR)
    • Direction: Short
    • Entry: 32.29
    • Stop: 33.18
    • Target: 31.97
    • Pattern: Expansion Bar
  30. ProShares Ultra S&P 500 Fund (SSO)
    • Direction: Short
    • Entry: 112.29
    • Stop: 114.19
    • Target: 111.17
    • Pattern: Expansion Bar / Support Break / Gap Down
  31. Stratasys, Inc. (SSYS)
    • Direction: Short
    • Entry: 99.82
    • Stop: 101.15
    • Target: 98.82
    • Pattern: Expansion Bar / Gap Down
  32. ProSharesShortVIX Short-Term Futures ETF (SVXY)
    • Direction: Short
    • Entry: 76.76
    • Stop: 80.43
    • Target: 75.99
    • Pattern: Expansion Bar / Support Break / Gap Down
  33. Ubiquiti Networks, Inc. (UBNT)
    • Direction: Short
    • Entry: 38.08
    • Stop: 39.14
    • Target: 37.70
    • Pattern: Expansion Bar
  34. ProSharesUltraPro S&P 500 (UPRO)
    • Direction: Short
    • Entry: 109.59
    • Stop: 112.30
    • Target: 108.49
    • Pattern: Expansion Bar / Support Break / Gap Down
  35. VelocitySharesDailyInverseVIX Short Term ETN (XIV)
    • Direction: Short
    • Entry: 39.14
    • Stop: 41.12
    • Target: 38.75
    • Pattern: Expansion Bar / Support Break / Gap Down

Previous Trades Update:

Four of our trades triggered on July 31st. If you have not already closed them then modify the stops and target levels.

  • HIG (short) – modify stop to 35.06 and keep target at 33.89
  • WMB (short) – update stop to 58.27 and maintain target at 54.90
  • XOP (short) – modify stop to 76.83 and keep target at 73.20
  • Trades that hit the target
    • HUN (short) returned 1.0% gain
    • MDLZ (short) gave 1.0% gain
    • PES (short) returned 4.3% gain
    • VRTX (short) was up 3.1%
    • XLU (short) returned 1.0%
    • WTW (long) returned 3.9%
    • SPLS (long) returned 0.9%

Trades triggered on July 30th:

  • CNO (short) closed with 0.9% gain
  • CSIQ (short) returned 3.7% gain
  • MTW (short) gapped down and returned 12.3% 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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