Trade Ideas for 08/14/09

Yesterday's volatility carried over to today, but after a few twists and turns the market ended up at the highs of the day. At this point, the market is poised for a big move. With the strong close and the strength of the buyers, it looks like it'll be a jump to new recovery highs. However, a failure to break the prior high, or upon breaking the high to sustain momentum, could lead to a sudden collapse. I advise great caution if we do break to new highs; consider taking profits on partial position (25–50%) and/or setting the sell-stop to breakeven on the remaining portion of any long holding. We bought SWC today.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
DGP	20.53	20.73	+1.0%	20.20	N/A	Chart
SRS	12.31	12.06	-2.0%	11.19	N/A	Chart
FXP	10.04	9.79	-2.5%	8.99	N/A	Chart
TMX	16.82	17.61	+4.7%	16.87	N/A	Chart
SFLY	16.01	15.96	-0.3%	15.40	N/A	Chart
SWC	6.93	6.99	+0.9%	6.44	N/A	Chart

Some more longs for tomorrow, plus a short. In the current environment of elevated downside risk, for the longs please play small, take partial profits after any big move, and do not hold TNA overnight.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
OMX (OfficeMax)	11.04	10.49	N/A	Chart
JNS (Janus Capital)	14.56	14.07	N/A	Chart
TNA (Small Cap Bull 3x)	40.12	37.88	N/A	Chart
V (Visa)	69.06	67.93	N/A	Chart
SKF (Ultrashort Financials)	30.52	28.11	N/A	Chart

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