Trade Ideas for 07/29/09

The market wobbled today but hasn't yet lost its footing. In fact, the back-and-forth of the past few sessions could be setting up a base from which a rally might spring. Out of congestion zones come big moves (in either direction), but the question is when [Edit: also which way!].

We lost a few positions today in the chop: MTL for a profit, SLV and RIMM for losses. It may turn out to be a good thing if the next direction is down. But just in case it's up, there's a new batch of long ideas for tomorrow.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
AHL	23.43	26.15	+11.6%	25.49	N/A	Chart
DNN	1.81	1.72	-5.0%	1.64	N/A	Chart
MPEL	5.43	5.60	+3.1%	5.15	N/A	Chart

Along with the greater-than-normal number of longs is a short, TZA. If elected, don't hold overnight.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
COF (Capital One)	30.81	29.31	N/A	Chart
ATHR (Atheros Communication)	24.96	23.49	N/A	Chart
CWTR (Coldwater Creek)	6.87	6.45	N/A	Chart
EXM (Excel Maritime)	9.51	8.74	N/A	Chart
CBAK (China BAK Battery)	3.48	3.19	N/A	Chart
TZA (Small Cap Bear 3x)	18.17	16.87	N/A	Chart

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