Chrib's Trades: Update 6/23/09

Monday, June 22, 2009

Update 6/23/09

Big break to the downside today; it remains to be seen whether this entire move is a correction or the start of a new downtrend. We sold APOL and bought SMN and SRS today. Let's wait for some consolidation before entering new positions.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Add'l Exit Guideline	Chart
DUG	16.54	19.88	+20.2%	18.62	N/A	Chart
SCC	61.84	66.80	+8.0%	62.62	N/A	Chart
QID	32.81	34.58	+5.4%	32.19	N/A	Chart
SMN	19.86	21.35	+7.5%	19.49	N/A	Chart
SRS	21.51	22.25	+3.4%	20.12	N/A	Chart

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How to Trade The Ideas

Please read my full post on this topic: How To Trade My System

My ideas are stocks I think might break out in the coming days. In most cases each idea may be traded in one of two ways: Aggressively or Conservatively. Aggressive traders should refer to the table's Exit A column, and Conservative traders the Exit C column.

Entry: The breakout price level is indicated by the "Entry" column. My system buys on the breakout, not in anticipation of a breakout; thus, a stock is only purchased if it's trading at or above the Entry price.

Exit A/C: Depending on whether you plan to trade in an Aggressive or Conservative style, use Exit A or C. This is your initial stop-loss price. If the stock should trade below this price and you own it, SELL THE STOCK. You may also combine the two exits by making Exit C the initial stop-loss and, in addition, sell at market if the stock goes below Exit A on a closing basis.

Order Entry: Use stop-limit buy orders through your broker to buy the stocks, and stop-limit sell orders once you've purchased the stock to protect your capital in case the stock moves against you.

Chrib's Trades

Monday, June 22, 2009

Update 6/23/09

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