Trade Ideas for 08/10/09

Not much to add after my prior post this weekend—please check it out if you haven't already. Price appears to be at a peak of some degree: maybe just for a few days, maybe much longer. The other noteworthy price action Friday had to do with the strength in the dollar. For at least the past couple of years, the market and the dollar have had an inverse relationship, and I expect that to continue. My prior post focused on the notion that the stock market rally might be over, but it could turn out that the dollar rally Friday was the rotten one. A normalizing plunge in the dollar next week would benefit current holding FCX. Finally, please update your bookmarks for this blog to chribstrades.blogspot.com.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
QID	26.61	26.19	-1.6%	25.96	N/A	Chart
FCX	65.46	63.41	-3.1%	62.49	N/A	Chart

As promised, some short ideas. QID is not intended as a re-up; if you already hold it, don't elect a second helping. And also a commodity-related long idea in case the dollar rally Friday turns out to be a trap.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
FXP (Ultrashort Xinhua 25)	10.04	9.62	8.99	Chart
SKF (Ultrashort Financials)	30.11	27.10	N/A	Chart
QID (Ultrashort QQQQ)	27.11	25.96	N/A	Chart
EEV (Ultrashort Emerging Markets)	16.48	15.59	N/A	Chart
SWC (Stillwater Mining)	7.01	6.49	N/A	Chart

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