Here are some trade setups for our Daily Trader portfolio for Wednesday September 10th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- AbbVie Inc. (ABBV)
- Direction: Long
- Entry: 57.28
- Stop: 56.43
- Target: 58.02
- Pattern: Expansion Candle / Resistance Break
- Wellpoint Health Networks Inc. (WLP)
- Direction: Long
- Entry: 121.58 or ORB (Opening Range Bar – first 30-minute trading candle) break
- Stop: 119.18
- Target: 123.18
- Pattern: Expansion Candle / All Time High
- ArrisGrp., Inc. (ARRS)
- Direction: Short
- Entry: 29.08
- Stop: 30.22
- Target: 27.65 and 25.11
- Pattern: Expansion Bar / Channel Break Out / Trend Line Break Down
- eBay, Inc. (EBAY)
- Direction: Short
- Entry: 52.37
- Stop: 53.84
- Target: 50.83 and 49.17
- Pattern: Expansion Bar / Trend Line Break Down
- Gannett Co, Inc. (GCI)
- Direction: Short
- Entry: 32.32
- Stop: 33.00
- Target: 31.65
- Pattern: Expansion Bar / Support Break
- GT Advanced Technologies Inc. (GTAT)
- Direction: Short
- Entry: 14.64
- Stop: 15.17
- Target: 14.27
- Pattern: Expansion Bar
- Ligand Pharmaceuticals Inc. (LGND)
- Direction: Short
- Entry: 49.24
- Stop: 50.20
- Target: 47.82 and 45.50
- Pattern: Expansion Bar / Support Break
- Qihoo 360 Technologies (QIHU)
- Direction: Short
- Entry: 81.82
- Stop: 83.32
- Target: 79.79 and 77.35
- Pattern: Expansion Bar / Support Break
- Pacira Pharmaceuticals Inc. (PCRX)
- Direction: Short
- Entry: 102.05
- Stop: 104.36
- Target: 99.47 and 96.26
- Pattern: Expansion Bar
- Container Store Group Inc. (TCS)
- Direction: Short
- Entry: 21.11
- Stop: 22.61
- Target: 20.70 and 19.61
- Pattern: Potential Support Break
Previous Trades Update:
Nine of our setups were triggered on September 9th. Some are open and some are closed.
- YHOO (long): maintain the stop at 40.11 and target at 43.41. Carry it over to next day if none of the levels are hit
- Z (short) – modify the stop to 132.80 and maintain target at 126.10. Carry it to next day if the price closes weakly
- MDVN (long) – adjust stop to 93.44 and target to 95.76
- APA (short) – modify stop to 98.25 and first target at 96.00 and second target to 93.58 and third to 91.78
Open Swing Trades:
- VNET (short): We are short from 26.88 on 09-Sep-14. Our first target was hit for 4.9% gain and second for 18.2% gain. Move the stop to 22.50 look to cover all at 16.77
- NKE (long) from 08-Sep-14 at 82.21. Maintain the stop at 80.94 and target at 83.70
- SOHU (short): We are short from 60.69 on 04-Sep-14. The initial target of 55.36 was hit on 09-Sept-14 for a 1.7% gain. Move the stop to 56.27 and target for second piece to 53.05 and third target to 47.85
- THRX (short): We are short from 21.74 on 04-Sep-14. Move the stop to 21.10 and keep the initial target at 20.20
- CRZO (short): We are short from 60.69 on 04-Sep-14. Our first target was hit fro 2.1% gain and second for 8.7% gain. Adjust stop to 57.06 and cover all at 50.79
Trades Closed Today:
- NOW (long): We were long from 62.78 on 08-Sep-14. Our first target was hit for 2.5% gain and then we hit the stop for 1.3% gain. The total trade gain was 1.9%
- LOCO (long) from 08-Sep-14 stopped out for 5.5% loss
- CMCSA (long) from 08-Sep-14 hit the target for 1.0% gain
- CMCM (long) from 09-Sep-14 stopped out for 3.4% loss
- WAGE (long) from 09-Sep-14 stopped out for 2.2% 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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