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Monday, October 12, 2009

Trade Ideas for 10/13/09

Another very low-volume day saw the Dow inch to new highs, closer to the 10,000 mark. The Nasdaq and S&P failed to take out the September 23rd highs, although the Nasdaq-100 and SPY managed it. We bought FXP today.

Current Holdings
Ticker Basis Closing
Price
Perf. Sell-Stop Addl Exit Guideline Chart
RBY 4.54 4.68 +3.1% 4.59 N/A Chart
SSO 32.68 35.63 +9.0% 34.74 N/A Chart
DGP 23.06 25.13 +9.0% 24.49 N/A Chart
FXP 9.01 8.97 -0.4% 8.75 N/A Chart


Long setups look extended for tomorrow. Of course markets could continue upward but we'll at least participate on any upside with current holdings. Only short ideas for Tuesday.

New Trade Ideas
Ticker Entry Exit A Exit C Chart
SMN (Ultrashort Basic Materials) 10.51 9.79 N/A Chart
QID (Ultrashort QQQQ) 23.11 22.23 N/A Chart
SRS (Ultrashort Real Estate) 10.03 9.39 N/A Chart

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

2 comments:

r said...

Hey Chrib, Just a question. Did you notice if hits to your sites have dropped recently? I am guessing if you are viewed more bearish in general that would be true. Which we can use as a contrarian indicator? Thanks for any answer.

r

Chris said...

Not much of a difference in hits lately