Trade Ideas for 03/27/09

The market ran a bit higher today, but it was a slog. We ought to be in Wave 3 now, but the action didn't feel right. A wave 3 should glide higher without effort, shallow pullbacks followed by huge leaps upward. Sort of like how the transportation sector fared today (below, left). Contrast this with the stymied upward action in the Dow (on the right):



The financials were one of the main drags on today's market. Let's see if tomorrow they take off, allowing the market averages to rise higher with less back-and-forth.

Our holdings did well today, and we also bought a couple new ones: ADBE and TV.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Additional Exit Guideline	Chart
ITU	9.66	11.96	+23.8%	11.18	N/A	Chart
DXO	2.51	3.19	+27.1%	2.99	N/A	Chart
GGB	5.29	6.09	+15.1%	5.81	N/A	Chart
MELI	17.39	19.61	+12.8%	16.86	Consider selling on a close < 19.25	Chart
URS	41.46	43.65	+5.3%	40.99	N/A	Chart
CLS	3.24	3.92	+22.2%	3.34	N/A	Chart
EGO	9.01	9.10	+1.0%	8.19	N/A	Chart
UDN	25.79	25.55	-0.9%	25.49	N/A	Chart
ADBE	22.71	22.94	+1.0%	21.49	N/A	Chart
TV	14.12	14.62	+3.5%	13.71	N/A	Chart

Let's hope we get the real meaty part of wave 3 tomorrow. Early pullback likely.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
MI (Marshall & Illsey)	6.27	5.49	N/A	Chart
KRE (Regional Banks ETF)	20.59	19.69	18.62	Chart
LYV (Live Nation)	3.21	2.94	N/A	Chart
RDC (Rowan)	14.96	14.05	13.64	Chart
JRCC (James River Coal)	14.51	13.84	12.99	Chart
JNY (Jones Apparel)	4.91	4.59	4.19	Chart

Please refer to "How To Trade The Ideas" (right-hand side) to read this table.