Daily Trader: Trading Ideas For August 28th, 2014

Our Daily Trader portfolio scan generated following trade setups for Thursday August 28th, 2014.

  1. Barnes & Noble, Inc. (BKS)
    • Direction: Long
    • Entry:¬†ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 23.25 or Below ORB
    • Target: 25.50
    • Pattern: Expansion Candle / Resistance Break / 28 Months High

    BKS_140827

  2. Hawaiian Electric Industries Inc. (HE)
    • Direction: Long
    • Entry: 25.28
    • Stop: 24.75
    • Target: 25.67
    • Pattern: Expansion Candle / Resistance Break

    HE_140827

  3. TeleCelularSulParticip (TSU)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 27.20 or below ORB
    • Target: 30.14
    • Pattern: Expansion Candle / Resistance Break / Gap Up

    TSU_140827

  4. JumeiIntl.Hldg. Ltd. (JMEI)
    • Direction: Short
    • Entry: 31.48
    • Stop: 32.65
    • Target: 29.88
    • Pattern: Expansion Bar / Support Break

    JMEI_140827

  5. Garmin Ltd. (GRMN)
    • Direction: Short
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 56.19 or Above ORB
    • Target: 52.37
    • Pattern: Expansion Bar / Potential Support Break

    GRMN_140827

Previous Trades Update:

Five of our trades were triggered on August 27th.

  • BSMX (long) hit the target for 1.6% gain
  • ISIS (long) – maintain stop at 39.07 and modify the target to 41.34

We will carry following trades to next day if it none of the levels are hit on Thursday.

  • LO (short) – modify stop to 59.81 and initial target to 57.40.
  • FFIV (long) – maintain stop at 122.55 and adjust initial target to 126.08.
  • NDLS (short) – modify stop to 21.15 and initial target at 18.40

Trades Triggered on August 26th:

  • TRW (short) closed out for 1.4% loss
  • VMW (long) closed for 1.9% gain
  • MDVN (long) hit the target for 2.0% gain
  • SLCA (long) hit the target for 2.0% gain
  • JD (long) closed for 3.3% gain

Prior Trades:

  • C (long) – we will continue to hold onto this long trade. Move the stop to 51.21 and maintain the target at 53.30
  • UA (long) stopped out for 1.5% 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
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