Here are some trade setups for our Daily Trader portfolio for Thursday September 11th, 2014. These are short-term trading ideas that are normally closed either the same day or in next few days. Trade nimbly.
- VeriFone Systems Inc. (PAY)
- Direction: Long
- Entry: 37.65
- Stop: 36.65
- Target: 38.75
- Pattern: Expansion Candle
- Pharmacyclics, Inc. (PCYC)
- Direction: Long
- Entry: 129.41
- Stop: 127.41
- Target: 131.41
- Pattern: Expansion Candle / Channel Up Break
- Riverbed Technology, Inc. (RVBD)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle) break
- Stop: 19.25
- Target: 19.83
- Pattern: Expansion Bar
- Avalonbay Communities, Inc. (AVB)
- Direction: Short
- Entry: 148.54
- Stop: 150.04
- Target: 147.04
- Pattern: Expansion Bar / Trend Line Break Down
- EquityResidntl Prop Tr (EQR)
- Direction: Short
- Entry: 64.46
- Stop: 65.46
- Target: 63.46
- Pattern: Expansion Bar / Trend Line Break Down
- United Dominion Realty Trust (UDR)
- Direction: Short
- Entry: 29.16
- Stop: 29.66
- Target: 28.66
- Pattern: Expansion Bar / Support Break
- Western Refining Inc. (WNR)
- Direction: Short
- Entry: 43.97
- Stop: 44.82
- Target: 42.97
- Pattern: Expansion Bar / Support Break
- Fluor Corp. (FLR)
- Direction: Short
- Entry: 69.99
- Stop: 71.15
- Target: 68.99 and 66.12
- Pattern: Expansion Bar / Support Break
- VMWare Inc. (VMW)
- Direction: Short
- Entry: 95.53
- Stop: 97.03
- Target: 94.03 and 93.12
- Pattern: Expansion Bar
- Pacira Pharmaceuticals Inc. (PCRX)
- Direction: Short
- Entry: 102.02
- Stop: 103.52
- Target: 99.47
- Pattern: Bear Flag
- Timekensteel Corp. (TMST)
- Direction: Long
- Entry: ORB (Opening Range Bar – first 30-minute trading candle) break
- Stop: 46.63
- Target: 51.63
- Pattern: Expansion Bar / All Time High
- USSilicaHldgs Inc. (SLCA)
- Direction: Long
- Entry: 69.85
- Stop: 68.35
- Target: 71.35 – initial target and 73.18 second target
- Pattern: Expansion Bar
Previous Trades Update:
Four of our setups were triggered on September 10th.
- ABBV (long): maintain the stop at 56.43 and target at 58.02
- GCI (short): adjust the stop to 32.70 and target to 31.51
- QIHU (short). We are short from Sep-10 at 81.82. The first target was hit for 2.1% gain. Adjust the stop to break-even and second target 77.35 and third target to 74.60
- TCS (short). Maintain the stop at 22.61 and the first target at 20.70 and second target at 19.61
Open Swing Trades:
- YHOO (long). We are long from Sep-09 at 41.92. Maintain the stop at 40.11 and target at 43.41
- NKE (long) from 08-Sep-14 at 82.21. Move the stop to 81.25 and maintain the 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 55.85 and target for second lot to 53.05 and third target to 47.85
- THRX (short): We are short from 21.74 on 04-Sep-14. Our first target was hit on 10-Sep-14 for 7.1% gain. Maintain the stop to 21.10 and keep the second target at 17.56 and third target at 16.06
Trades Closed Today:
- VNET (short): We were stopped on a first-hour spike for 13.3%. Unfortunately we missed the subsequent drop to our intended target. First lots gained 4.9% and 18.2% on 09-Sep-14. The combined gain for the trade was 12.1%
- CRZO (short): We were stopped on the third lot for 6.0% gain. The first lot realized 2.1% gain on Sep-04 and second lot gained 8.7% on Sep-08. The total gain for the trade was 5.6%
- APA (short) hit the target for 1.3% gain
- MDVN (long) hit the target for 0.8% gain
- Z (short) was stopped 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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