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Wednesday, October 7, 2009

Trade Ideas for 10/07/09

Today was a consolidation day, ending mixed with the Dow negative but most other indices positive. Not much new to add versus yesterday, although the after-hours action shows a decided upside bias.

Current Holdings
Ticker Basis Closing
Price
Perf. Sell-Stop Addl Exit Guideline Chart
SRS 9.56 10.17 +6.4% 9.63 N/A Chart
SKF 25.11 24.48 -2.5% 23.99 N/A Chart
QID 23.17 23.12 -0.2% 22.56 N/A Chart
TWM 28.06 28.51 +1.6% 28.29 N/A Chart
SSO 32.68 34.39 +5.2% 32.34 N/A Chart
DGP 23.06 24.57 +6.5% 23.99 N/A Chart


A bunch of longs for tomorrow.

New Trade Ideas
Ticker Entry Exit A Exit C Chart
HL (Hecla Mining) 5.01 4.72 N/A Chart
RBY (Rubicon Minerals) 4.54 4.32 N/A Chart
PCX (Patriot Coal) 12.51 11.89 N/A Chart
HOLX (Hologic) 16.71 16.36 N/A Chart

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

2 comments:

r said...

Chrib, In your EW count are in 2 of 3 of 1 of Primary 3? Thx

Chris said...

Too many competing counts right now, but a few observations:

1. Not sure I agree with the count of 5th wave 2000, B wave 2007. Could be, but I'm sticking with 5th wave 2007, A wave March, and currently either in B or C, depending on whether markets peaked.

2. My mom doesn't bother counting subwaves in corrections. Why? Too many competing counts, too complicated, you'll just drive yourself crazy. After attempting to do so during this rally, I'm inclined to agree.

3. Here's her count