Off the Charts

Current Trade Idea Updates 8/11/14: Cliffs Natural Resources (CLF) triggered through our suggested entry today. We will move this trade to open and manage accordingly in the days to come. 8/10/14: We are going to add Cliffs Natural Resources to our Long Ideas table. After a breakout above the $16.50 level a few weeks back, CLF has built another short-term bullish consolidation pattern and seems ready to make another move higher. We are looking to enter above Friday's high for a trade back to the larger resistance area near $21. 8/11/14: Under Armour (UA) triggered through our suggested entry price today. We will move this trade to open and manage accordingly in the days to come. 8/10/14: We are going to add Under Armour to the Long Ideas table. Although this stock may be a bit extended to the upside in short term, we think UA may have a little more gas left for another push higher. We like UA for a trade on a break above $69 for a move to the $75 in the days to come. 8/11/14: Gogo (GOGO) had a violent move out of the gate this morning and came within just a few pennies of our suggested target price (a potential 14% gain in just one week), in the event you were able to lock in some gains. After this morning's meltdown, GOGO spent most of the session bouncing back. It's important to note that while we will always provide a target price, you must manage your positions with the notion that in trading, nothing is ever exact, and these prices ultimately should be used as a gauge. This is a great example of this concept. We will keep this position open for now and see how price reacts in the next few days. 8/4/14: GOGO put in the small bounce we were looking for today and triggered through our suggested entry price as a result. We will move this trade idea to open in the table and monitor accordingly in the days to come. 8/3/14: We are going to add GOGO to the Short Ideas table. GOGO broke down from its bearish consolidation pattern from the last few weeks on Thursday and Friday. We will look to enter this short trade idea on a bounce to the $16.40 area should that occur in the next few sessions. We typically never like to short on weakness (as a general rule) but rather on small bounces. In the event we don't get a bounce, we will not look to initiate a short. 8/11/14: We are removing Workday (WDAY) from the Short Ideas table. This stock never triggered through our suggested entry. 8/6/14: We are going to add Workday to the Short Ideas list. We want to short WDAY on a break of the short term rising trend line around $81.50. 8/11/14: Just like Gogo above, Delta Air Lines (DAL) came close to our suggested target price and bounced back and gapped open this morning. This gap was above our suggested stop, so we always suggest waiting to see how price reacts in the first 30 minutes of the day before making any decisions. As a result, we will remove the position at the adjusted stop of $36.75 for a gain of over 3%. In the event you are still involved in this position, use today's high as new stop level and manage accordingly. 8/10/14: DAL came within about $0.40 of our target price early in Friday's session before snapping back and closing on the highs. We are still going to use the adjusted stop of $36.75 in the event DAL begins to trade higher in the coming days, as this trade may have found a short-term bottom for now. 8/5/14: DAL had some decent follow-through action today. We are going to adjust our stops down to just about break even on this trade. 7/30/14: DAL triggered through our suggested entry price today of $37.90 in today's trade. We will continue to monitor this trade as it unfolds in the days to come. New Trade Ideas 8/11/14: We are going to add Facebook (FB) to our Long Ideas table. After an earnings gap a few weeks back, FB has given a relatively shallow pullback and now appears like it could be setting up for a move above $74, which seems to acting as a short-term resistance level over the last few sessions. In the event FB can break this level, we will look for a trade to prior highs near $77 with an ultimate target around $80.

Off the Charts

Cliffs Natural Resources triggers our suggested entry.

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