Daily Trader: Trading Ideas For August 7, 2014

Following are our trade ideas for our Daily Trader portfolio for Thursday August 7th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Costco Wholesale Corp. (COST)
    • Direction: Long
    • Entry: 120.07
    • Stop: 118.95
    • Target: 122.43
    • Pattern: Expanding Breakout / Ascending Triangle Up Break


  2. Greenbrier Cos Inc. (GBX)
    • Direction: Short
    • Entry: 60.76 or ORB (Opening Range Bar – first 30 minute bar) breakdown
    • Stop: 61.70 or above the ORB
    • Target: 60.86
    • Pattern: Expansion Breakdown / Channel Breakdown


  3. Synaptics Inc. (SYNA)
    • Direction: Long
    • Entry: 84.00
    • Stop: 81.70
    • Target: 88.41
    • Pattern: Expansion Bar / Bull Flag


  4. Take-Two Interactive Software, Inc. (TTWO)
    • Direction: Short
    • Entry: 20.35
    • Stop: 21.21
    • Target: 19.90
    • Pattern: Expansion Breakdown / Support Breakdown / Uneven Head & Shoulder


  5. Western Refining Inc. (WNR)
    • Direction: Long
    • Entry: 44.02
    • Stop: 42.99
    • Target: 44.84
    • Pattern: Expansion Breakout / Ascending Triangle Up Break


  6. Alon USA Energy Inc. (ALJ)
    • Direction: Long
    • Entry: 13.82
    • Stop: 13.13
    • Target: 14.37
    • Pattern: Expansion Breakout / Ascending Triangle Up Break


Previous Trades Update:

Only one of our trades triggered on August 6th. If you have not already closed it then modify the stops and target levels.

  • ERJ (short) – modify stop to 37.30 and target to 36.67

Trades triggered on August 5th:

  • INSM (short) closed with 2.9% 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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