Market Remarks

Daily Trader: Trading Ideas For September 8th

Here are some trade setups for our Daily Trader portfolio for Monday September 8th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.

  1. Comcast Corp. (CMCSA)
    • Direction: Long
    • Entry: 55.89
    • Stop: 54.68
    • Target: 56.45
    • Pattern: Expansion Candle / Resistance Break

    CMCSA_140905

  2. WisdomTree India Earnings Fund (EPI)
    • Direction: Long
    • Entry: 23.67
    • Stop: 23.17
    • Target: 24.40
    • Pattern: Expansion Candle / Channel Break Out

  3. Fulton Financial Corp. (FULT)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute trading candle)
    • Stop: 11.51
    • Target: 11.98
    • Pattern: Expansion Candle / Potential Resistance Break

  4. Harley Davidson Inc. (HOG)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute trading candle)
    • Stop: 64.85
    • Target: 66.60
    • Pattern: Expansion Bar / Resistance Break

  5. Jazz Pharmaceuticals, Inc. (JAZZ)
    • Direction: Long
    • Entry: 168.98
    • Stop: 161.38
    • Target: 170.40
    • Pattern: Expansion Bar / Resistance Break

  6. Nike Inc. (NKE)
    • Direction: Long
    • Entry: ORB (Opening Range Bar – first 30-minute trading candle)
    • Stop: 80.72
    • Target: 83.70
    • Pattern: Expansion Bar / Resistance Break / All Time High

  7. Fresh Market Inc. (TFM)
    • Direction: Long
    • Entry: 35.92
    • Stop: 34.97
    • Target: 37.72
    • Pattern: Expansion Bar / Resistance Break

  8. Energen Corp. (EGN)
    • Direction: Short
    • Entry: 74.19 or ORB (Opening Break Bar – first 30-minute trading candle)
    • Stop: 76.41
    • Target: 73.45
    • Pattern: Expansion Bar + Day 1

  9. Workday Inc. (WDAY)
    • Direction: Long
    • Entry: 90.96
    • Stop: 87.43
    • Target: 92.05
    • Pattern: Potential Resistance Break / Ascending Triangle Break

  10. Palo Alto Networks Inc. (PANW)
    • Direction: Long
    • Entry: 89.26
    • Stop: 86.60
    • Target: 92.45
    • Pattern: Ascending Triangle Break

  11. ServiceNow Inc. (NOW)
    • Direction: Long
    • Entry: 62.78
    • Stop: 60.43
    • Target: 64.36 – initial target
    • Pattern: Channel upper Limit Test

  12. ElPolloLocoHldgs Inc. (LOCO)
    • Direction: Long
    • Entry: 35.50
    • Stop: 38.42
    • Target: 39.90 – initial target
    • Pattern: Cup & Handle

Previous Trades Update:

Five of our setups were triggered on September 5th.

  • COST (long) hit the target for 1.3% gain
  • DUST (long) – adjust the stop to 18.00 and target to 19.70
  • SOHU (short) – modify the stop to 56.72 and target to 55.36
  • LCI (short) – adjust stop to 38.74 and target to 37.91

Trades Triggered on September 4th:

  • FSLR (short) closed for 1.7% loss
  • NR (short) closed for 0.4% gain
  • YPF (long) stopped for 3.5% loss
  • LUK (long) hit the target for 2.3% gain

Prior Trades:

  • THRX (short) – Update the stop to breakeven at 21.70 and keep the initial target at 20.20
  • CRZO (short) – hit the initial target for 2.1% gain. Keep the adjusted stop at 59.60 and cover all at 50.79
  • GEVA (short) – our initial target of 67.56 was hit for 2.6% gain. Our second piece was stopped at 67.76 in the early morning spike for 2.3% gain
  • GRMN (short) hit the initial target of 52.28 for 2.2% gain. Maintain the stop for second piece at 53.45 and target at 49.96
  • QIWI (short) was stopped for 4% loss
  • C (long) – the second piece was stopped at 52.07 for 1.5% gain
  • NDLS (short) – Our initial target of 18.40 was hit earlier. Move the stop to 17.75 and look to cover all at 16.75

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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