Daily Trader: Trading Ideas For August 18th, 2014

Following are our trade ideas for our Daily Trader portfolio for Monday August 18th, 2014.These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Gamestop Corp. (GME)
    • Direction: Short
    • Entry: 39.34
    • Stop: 40.11
    • Target: 38.36
    • Pattern: Expansion Candle / support Break Down


  2. ICICIC Bank Ltd. (IBN)
    • Direction: Long
    • Entry: 52.63
    • Stop: 51.87
    • Target: 53.59
    • Pattern: Expansion Breakout + 1 Day / Potential Resistance Breakout


  3. First Solar Inc. (FSLR)
    • Direction: Long
    • Entry: 70.12
    • Stop: 68.12
    • Target: 72.58
    • Pattern: Short Triangle Break Out


  4. Baker Hughes Inc. (BHI)
    • Direction: Short
    • Entry: 66.50
    • Stop: 67.89
    • Target: 63.45
    • Pattern: Expansion Bar + 1 Day / Support Break Down


Previous Trades Update:

Two of our trades triggered on August 15th. If you have not already closed them then modify the stops and target levels.

  • AMGN (long) – modify stop to 130.00 and target to 133.31
  • NTAP (long) – modify stop to 40.63 and target to 41.67

Trades triggered on August 14th:

  • CSIQ (long) hit the target for 6.3% gain
  • FLT  (long) closed out for 0.7% 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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