Market Remarks

Daily Trader: Trading Ideas For September 4th

Here are some trade setups for our Daily Trader portfolio for Thursday September 4th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Leucadia National Corp. (LUK)
    • Direction: Long
    • Entry: 25.61
    • Stop: 24.90
    • Target: 26.25
    • Pattern: Expansion Candle / Resistance Break / Channel Break

    LUK_140903

  2. YPFSociedadAnonima. (YPF)
    • Direction: Long
    • Entry: 36.01
    • Stop: 34.40
    • Target: 37.94
    • Pattern: Expansion Bar

  3. Newpark Resources, Inc. (NR)
    • Direction: Short
    • Entry: 11.96
    • Stop: 12.41
    • Target: 11.70
    • Pattern: Expansion Bar

  4. Sohu Com Inc. (SOHU)
    • Direction: Short
    • Entry: 56.35
    • Stop: 57.72
    • Target: 55.29
    • Pattern: Expansion Bar

  5. First Solar Inc. (FSLR)
    • Direction: Long
    • Entry: 72.45
    • Stop: 70.42
    • Target: 74.59
    • Pattern: Expansion Bar / Potential Resistance Break

  6. Carrizo Oil & Gas Inc (CRZO)
    • Direction: Short
    • Entry: 60.60
    • Stop: 62.69
    • Target: 59.40 – initial target
    • Pattern: Bear Flag

  7. Theravance Inc. (THRX)
    • Direction: Short
    • Entry: 21.70
    • Stop: 22.53
    • Target: 21.16
    • Pattern: Expansion Bar / Bear Flag

Previous Trades Update:

Eleven of our setups were triggered on September 3rd.

  • ACXM (long) – adjust the stop to 18.93 and target to 19.32
  • CA (long) – modify stop to 28.54 and target to 29.27
  • EXPE (long) – adjust stop to 87.94 and target to 89.26
  • RAX (long) – modify stop to 35.23 and target at 38.15
  • ZLTQ (long) – adjust the stop to 22.73 and target to 24.54
  • CLD (short) – adjust the stop to 14.55 and target to 13.95
  • GRMN (short) – adjust the stop to 54.96 and initial target to 52.28
  • GEVA (short) – adjust the stop to 70.70 and initial target to 67.56
  • SIMO (long) – maintain stop at 26.78 and target to 28.17
  • SKX (long) stopped for 2.0% loss
  • XPO (long) stopped for 2.1% loss

Trades Triggered on September 2nd:

  • CNSL (long) stopped for 1.5% loss
  • MTW (long) stopped for 1.2% loss
  • TQNT (long) stopped for 2.7% loss
  • TTWO (long) stopped for 2.6% loss

Prior Trades:

  • QIWI (short) – maintain the stop at 39.10 and initial target at 35.96
  • C (long) – Continue to maintain the stop at 51.95 and the initial target at 52.80
  • NDLS (short) – We hit the initial target at 18.40. Adjust the stop to 18.90 and the initial target at 16.75
  • BCEI (long) – adjust the stop to 59.46 and target to 62.64

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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