Market Remarks

Daily Trader: Trading Ideas For September 5th

Here are some trade setups for our Daily Trader portfolio for Non-Farm Pay-roll Friday September 5th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Costco Wholesale Corp. (COST)
    • Direction: Long
    • Entry: 125.27
    • Stop: 123.94
    • Target: 126.95
    • Pattern: Expansion Candle / Gap Up / Resistance Break

    COST_140904

  2. Direxion Daily Gold Miners Bear 3x Shares (DUST)
    • Direction: Long
    • Entry: 18.69
    • Stop: 18.20
    • Target: 19.70
    • Pattern: Expansion Candle / Channel Break Out

  3. Fastenal Co. (FAST)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute trading candle)
    • Stop: 46.60
    • Target: 48.55
    • Pattern: Expansion Candle / Potential Resistance Break

  4. Sapient Corp. (SAPE)
    • Direction: Long
    • Entry: 15.51
    • Stop: 15.10
    • Target: 16.00
    • Pattern: Expansion Bar

  5. Starwood Property Trust Inc. (STWD)
    • Direction: Long
    • Entry: 24.10
    • Stop: 23.65
    • Target: 24.50
    • Pattern: Expansion Bar / Resistance Break

  6. Sohu Com Inc (SOHU)
    • Direction: Short
    • Entry: 56.34
    • Stop: 57.28
    • Target: 54.16
    • Pattern: Expansion Bar + Day 1

  7. Englobal Corp. (EGN)
    • Direction: Short
    • Entry: 73.24
    • Stop: 74.91
    • Target: 71.13 – initial target
    • Pattern: Expansion Bar / Support Break

  8. FrancoNeveda Corp. (FNV)
    • Direction: Short
    • Entry: 54.39
    • Stop: 55.34
    • Target: 52.95
    • Pattern: Expansion Bar / Short Bear Flag / Support Break

  9. Lannet Inc. (LCI)
    • Direction: Short
    • Entry: 37.44
    • Stop: 38.96
    • Target: 35.10
    • Pattern: Expansion Bar

Previous Trades Update:

Seven of our setups were triggered on September 4th.

  • LUK (long) – adjust stop to 25.49 and target to 26.20
  • YPF (long) – modify stop to 34.78 and target at 36.14
  • NR (short) – adjust the stop to 12.27 and target to 11.58
  • FSLR (short) – adjust the stop to 71.25 and target to 73.50
  • THRX (short) – modify the stop to 22.27 and target to 20.20

Trades Triggered on September 3th:

  • ACXM (long) hit the adjusted target for 0.5% gain
  • CA (long) hit the adjusted target for 1.6% gain
  • EXPE (long) stopped for 0.6% loss
  • RAX (long) closed for 3.8% gain
  • SIMO (long) hit the adjusted target for 0.6% gain
  • ZLTQ (long) closed for 1.8% loss
  • CLD (short) stopped for 3.0% loss

Prior Trades:

  • CRZO (short) – hit the initial target for 2.1% gain. Adjust the stop 59.60 and cover all at 50.79
  • GEVA (short) – our initial target of 67.56 was hit for 2.6% gain. Adjust stop to 67.76 and cover the full position at 63.53
  • GRMN (short) – adjust the stop to breakeven to 53.45 and maintain initial target at 52.28
  • QIWI (short) – maintain the stop at 39.10 and initial target at 35.96
  • C (long). Our initial target was hit. Adjust the stop to 52.07 and target to 55.67
  • NDLS (short) – Our initial target of 18.40 was hit earlier. Adjust the stop to 18.28 and the cover all at 16.75
  • BCEI (long) stopped out for 3.9% 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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