Trade Ideas for 03/31/09

Carnage today, as the pent-up bearishness finally found an outlet. The market gapped down at the open, hard, and never rallied in continuing last week's pullback. Judging by the severity of today's decline, this correction isn't going to be a one-day thing. We might rally a little bit over the next day or so, but the bulls need some time to regroup before they can push the uptrend to new highs.

Sold today were TV, ITU, JNY, and ADBE. No purchases, as TZA gapped up far above the buy price.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Additional Exit Guideline	Chart
MELI	17.39	18.66	+7.3%	16.86	N/A	Chart
CLS	3.24	3.68	+13.6%	3.34	N/A	Chart
EGO	9.01	8.81	-2.2%	8.19	N/A	Chart

For tomorrow, a couple of biotech plays, which sometimes don't follow the market's lead.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
CEPH (Cephalon)	69.11	67.45	N/A	Chart
VIVO (Meridian Bioscience)	18.22	17.32	N/A	Chart

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