Daily Trader: Trading Ideas For August 8, 2014

Following are our trading ideas for our Daily Trader portfolio for August 8th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days.

  1. DexCom Inc. (DXCM)
    • Direction: Long
    • Entry: 44.08
    • Stop: 42.20
    • Target: 45.84
    • Pattern: Expanding Breakout


  2. YY Inc. (YY)
    • Direction: Long
    • Entry: 86.10
    • Stop: 84.04
    • Target: 89.85
    • Pattern: Expansion Breakout


  3. Chicos FAS, Inc. (CHS)
    • Direction: Short
    • Entry: 15.24
    • Stop: 15.62
    • Target: 14.70 – Trade toward
    • Pattern: Expansion Bar / Channel Breakdown (on weeklies)


  4. Scripps Networks Interactive Inc. (SNI)
    • Direction: Short
    • Entry: 77.22
    • Stop: 78.92
    • Target: 75.89
    • Pattern: Expansion Breakdown / Descending Triangle Breakdown


  5. White Wave Foods Co. (WWAV)
    • Direction: Long
    • Entry: 33.54
    • Stop: 32.55
    • Target: 34.88
    • Pattern: Expansion Breakout / Channel Up Break


  6. Envision Healthcare Holdings Inc. (EVHC)
    • Direction: Long
    • Entry: 36.60
    • Stop: 35.78
    • Target: 34.88
    • Pattern: Ascending Triangle Up Break


Previous Trades Update:

Three of our trades triggered on August 7th. If you have not already closed them then modify the stops and target levels.

  • ALJ (long) – modify stop to 13.54 and target to 13.93
  • WNR (long) – set stop to 43.74 and target to 44.81
  • GBX (short) returned 1.0%

Trades triggered on August 6th:

  • ERJ (short) stopped for 1.1% loss

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
Print Friendly, PDF & Email