Daily Trader: Trading Ideas For August 29th

Our Daily Trader portfolio scan generated following trade setups for Friday August 29th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Crown Holdings Inc. (CCK)
    • Direction: Long
    • Entry: 48.31 or ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 47.52
    • Target: 48.81
    • Pattern: Expansion Candle


  2. Vector Group Ltd. (VGR)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 23.38
    • Target: 24.80
    • Pattern: Expansion Candle / 13 Year High


  3. VCAAntech, Inc. (WOOF)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 40.33 or below ORB
    • Target: 41.79
    • Pattern: Expansion Candle / Six Year High


  4. Work Day Inc. (WDAY)
    • Direction: Short
    • Entry: 85.16 or ORB (Opening Range Bar – first 30-minute candle) break
    • Stop: 86.66
    • Target: 82.60
    • Pattern: Expansion Bar / Up Trend Line Break


  5. QiwiPlc. (QIWI)
    • Direction: Short
    • Entry: 37.60
    • Stop: 39.50
    • Target: 35.96
    • Pattern: Expansion Bar / Two Day Reversal


  6. Hi-Crush Partners (HCLP)
    • Direction: Long
    • Entry: 67.34
    • Stop: 64.95
    • Target: 68.99
    • Pattern: Expansion Bar / Resistance Break


  7. Arista Networks Inc. (ANET)
    • Direction: Long
    • Entry: 83.99
    • Stop: 82.45
    • Target: 85.75
    • Pattern: Expansion Bar / Two Day Reversal


Previous Trades Update: One of our trades was triggered on August 28th.

  • HE (long) – adjust the stop to 25.02 and modify the target to 25.55

Trades Triggered on August 27th:

  • ISIS (long) hit the target and closed for 2.6% gain

Prior Trades:

  • C (long) – Maintain the stop at 51.21 and the target at 53.30
  • NDLS (short) – maintain the stop at 20.29 and the initial target at 18.40
  • LO (short) – maintain stop at 59.81 and initial target to 57.40.
  • FFIV (long) was stopped for 1.6% 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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