Daily Trader: Trading Ideas For August 20th, 2014

Following are our trade ideas for our Daily Trader portfolio for Wednesday August 20th, 2014. These are short term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Cavium Networks Inc. (CAVM)
    • Direction: Long
    • Entry: 55.24
    • Stop: 53.35
    • Target: 57.45
    • Pattern: Resistance Break Out / Expansion Candle / All Time High


  2. DepoMed, Inc. (DEPO)
    • Direction: Long
    • Entry: 15.21
    • Stop: 14.41
    • Target: 15.82
    • Pattern: Horizontal Channel Break Out / Expansion Candle


  3. F5 Networks, Inc. (FFIV)
    • Direction: Long
    • Entry: 120.68
    • Stop: 119.58
    • Target: 125.51
    • Pattern: Resistance Break Out / Expansion Candle


  4. Qlik Technologies Inc. (QLIK)
    • Direction: Long
    • Entry: 28.38
    • Stop: 27.59
    • Target: 29.60
    • Pattern: Expansion Candle


  5. Red Hat, Inc. (RHT)
    • Direction: Long
    • Entry: 62.79
    • Stop: 61.58
    • Target: 65.30
    • Pattern: Resistance Break Out / Expansion Candle / Near All Time High


  6. Salix Pharmaceuticals Ltd. (SLXP)
    • Direction: Long
    • Entry: 162.48
    • Stop: 154.00
    • Target: 168.98
    • Pattern: Channel Break Out / Expansion Candle / All Time High


Previous Trades Update:

Trades triggered on August 19th.

  • GRA (long) – update the stop to 97.96 and target to 100.28

Trades Triggered on August 18th.

  • FSLR (long) closed for 1.2% gain
  • IBN (long) closed for 0.6% 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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