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.

1. AbbVie Inc. (ABBV)
   • Direction: Long
   • Entry: 57.28
   • Stop: 56.43
   • Target: 58.02
   • Pattern: Expansion Candle / Resistance Break

   

2. 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

   

3. 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

   

4. eBay, Inc. (EBAY)
   • Direction: Short
   • Entry: 52.37
   • Stop: 53.84
   • Target: 50.83 and 49.17
   • Pattern: Expansion Bar / Trend Line Break Down

   

5. Gannett Co, Inc. (GCI)
   • Direction: Short
   • Entry: 32.32
   • Stop: 33.00
   • Target: 31.65
   • Pattern: Expansion Bar / Support Break

   

6. GT Advanced Technologies Inc. (GTAT)
   • Direction: Short
   • Entry: 14.64
   • Stop: 15.17
   • Target: 14.27
   • Pattern: Expansion Bar

   

7. Ligand Pharmaceuticals Inc. (LGND)
   • Direction: Short
   • Entry: 49.24
   • Stop: 50.20
   • Target: 47.82 and 45.50
   • Pattern: Expansion Bar / Support Break

   

8. Qihoo 360 Technologies (QIHU)
   • Direction: Short
   • Entry: 81.82
   • Stop: 83.32
   • Target: 79.79 and 77.35
   • Pattern: Expansion Bar / Support Break

   

9. Pacira Pharmaceuticals Inc. (PCRX)
   • Direction: Short
   • Entry: 102.05
   • Stop: 104.36
   • Target: 99.47 and 96.26
   • Pattern: Expansion Bar

   

10. 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.

1. 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
2. Z (short) – modify the stop to 132.80 and maintain target at 126.10. Carry it to next day if the price closes weakly
3. MDVN (long) – adjust stop to 93.44 and target to 95.76
4. 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:

1. 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
2. NKE (long) from 08-Sep-14 at 82.21. Maintain the stop at 80.94 and target at 83.70
3. 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
4. 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
5. 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:

1. 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%
2. LOCO (long) from 08-Sep-14 stopped out for 5.5% loss
3. CMCSA (long) from 08-Sep-14 hit the target for 1.0% gain
4. CMCM (long) from 09-Sep-14 stopped out for 3.4% loss
5. WAGE (long) from 09-Sep-14 stopped out for 2.2% loss

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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