Daily Trader: Trading Ideas For August 12th, 2014

Following are our trade ideas for our Daily Trader portfolio for August 12th, 2014.These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Bitauto Holdings Ltd. (BITA)
    • Direction: Long
    • Entry: 69.14
    • Stop: 67.10
    • Target: 71.91
    • Pattern: Expansion Candle (all time high)


  2. CompaniadeMinas Buenaventura SA (BVN)
    • Direction: Long
    • Entry: 13.13
    • Stop: 12,72
    • Target: 13.66
    • Pattern: Expansion Breakout / Resistance Break


  3. KrispyKreme Doughnuts, Inc. (KKD)
    • Direction: Long
    • Entry: 17.05
    • Stop: 16.47
    • Target: 17.73
    • Pattern: Expansion Bar


  4. OmniVision Technologies, Inc. (OVTI)
    • Direction: Long
    • Entry: 24.36
    • Stop: 23.73
    • Target: 25.33
    • Pattern: Expansion Candle / Resistance Break / Fibonacci 50% Retracement of decline in 2001 from all time high of 37.05 to 10.15


  5. KingDigitalEntertainmentPlc (KING)
    • Direction: Short
    • Entry: 17.97 or ORB (Opening Range Bar – first 30 minute candle) breakdown
    • Stop: 18.91
    • Target: 17.79
    • Pattern: Expansion Bar / Support Break Down


Previous Trades Update:

Three of our trades triggered on August 11th. If you have not already closed them then modify the stops and target levels.

  • BIG (long) – modify stop to 45.56 and target to 46.32
  • EBIX (long) – modify stop to 13.38 and target to 13.96
  • LOW (long) – modify stop to 49.40 and target to 49.95

Trades triggered on August 8th:

  • DXCM (long) hit the target and closed for 1.0% gain
  • YY (long) also hit the target and returned 1.9%
  • SNI (short) lost 1.5%

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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