Daily Trader: Trading Ideas For August 15th, 2014

Following are our trade ideas for our Daily Trader portfolio for Friday August 15th, 2014.These are short term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Amgen, Inc. (AMGN)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30 minute candle) breakout
    • Stop: 2 points from entry
    • Target: 2 points from entry
    • Pattern: Expansion Candle / All Time High
    • Note: Trading all time breakout high is tricky in the current geo-politically affected market


  2. ICICIC Bank Ltd. (IBN)
    • Direction: Long
    • Entry: 52.63
    • Stop: 51.87
    • Target: 53.59
    • Pattern: Expansion Breakout / Potential Resistance Breakout


  3. Network Appliance, Inc. (NTAP)
    • Direction: Long
    • Entry: 51.64 or ORB (Opening Range Bar – first 30 minute candle) breakout
    • Stop: 40.49 or below the ORB
    • Target: 42.31 or 1.50 points from the entry
    • Pattern: Expansion Bar / Resistance Break / Gap Space Above


  4. Tessera Technologies Inc. (TSRA)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30 minute candle) break out
    • Stop: Below ORB
    • Target: 1 point from entry
    • Pattern: Expansion Candle


  5. Weyerhaeuser Co. (WY)
    • Direction: Long
    • Entry: 33.25
    • Stop: 32.76
    • Target: 33.60
    • Pattern: Expansion Candle / Resistance Break Out


Previous Trades Update:

Two of our trades triggered on August 14th. If you have not already closed them then modify the stops and target levels.

  • CSIQ  (long) – modify stop to 29.66 and target to 32.86
  • FLT (long) – modify stop to 141.56 and target to 143.94

Trades triggered on August 13th:

  • CAR (long) hit the target for 1.1% gain
  • SIMO (long) stopped out for 0.9% loss
  • SBGI (short) hit the target for 1.5% 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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