Trade Ideas for 01/08/08

Instead of rocketing higher, we got a sharp pullback today. After such a strong advance the past several sessions, it was too much to ask for the market to pull off a bull market-style bull move and reach even higher after taking a small rest. The question is now a matter of when the market will finish correcting. It could happen as soon as tomorrow and as late as the early part of next week.

We lost most of our portfolio, each loss an expensive 1R loss. New signals were nowhere close to breakout levels.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Additional Exit Guideline	Chart
VMW	24.11	24.83	+3.0%	23.15	Consider selling on a close < 23.78	Chart

In case the bounce is brief and we start climbing again in the afternoon, here are tomorrow's charts.

Trade Ideas for 01/08/08

Ticker	Entry	Exit A	Exit C	Chart
BKS (Barnes & Noble)	18.17	16.78	N/A	Chart
CZZ (Cosan)	3.91	3.49	3.17	Chart

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