Trade Ideas for 05/20/09

Narrow range today, ending on a definitive down tick. It appears the corrective move has begun, and the two possibilities are as outlined yesterday. Either a shallow correction (wave 2 of a final thrust up) or a more meaningful one (wave C of an a-b-c down) has commenced.

We bought YGE today. YGE reports on Friday, so should be sold by the close Thursday.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Additional Exit Guideline	Chart
DGP	18.68	19.85	+6.3%	19.49	N/A	Chart
SSO	25.06	25.58	+2.1%	23.95	N/A	Chart
HNI	16.84	17.70	+5.1%	16.86	N/A	Chart
YGE	9.11	9.55	+4.8%	9.19	N/A	Chart

Short ideas for tomorrow, of which TWM is the more aggressive in terms of entry price. Also, gold may have reached a temporary peak, so DZZ is in the mix also.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
TWM (Ultrashort Russell 2000)	48.06	45.90	N/A	Chart
SKF (Ultrashort Financials)	45.96	40.71	N/A	Chart
DZZ (Double Short Gold ETN)	22.56	21.93	21.65	Chart

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