Trade Ideas for 07/01/09

The S&P made it to a two-week high in the early going, only to be soundly rejected at the 930 level, falling below the lows of the prior two days before stabilizing. Because of this downside breach, the bulls now have something to prove. They can do so by printing another higher high tomorrow or later this week. The action feels tired though, and the bears have a great opportunity to strike.

We were stopped out of DGP today and bought NVAX, which rocketed. It can certainly go higher, but as a measure of caution I recommend taking at least 25% of the position off the table at tomorrow's open.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Add'l Exit Guideline	Chart
NVAX	2.62	3.28	+25.2%	2.62	Book profit on at least 25% at the open tomorrow.	Chart

A bunch of ideas for tomorrow

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
TWM (Ultrashort Russell 2000)	43.59	41.60	N/A	Chart
VXX (VIX Volatility Index Short-Term Futures ETN)	70.31	65.86	N/A	Chart
ABAT (Advanced Battery)	4.11	3.84	N/A	Chart
ADCT (ADC Telecomm.)	8.16	7.79	N/A	Chart
LWSN (Lawson Software)	5.64	5.52	5.40	Chart

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