Trade Ideas for 06/11/09

Today the S&P traversed its entire June range 1.5 times. It gapped up at the open around 950, dropped down to 928, then retraced half that decline by closing at 939. After a week of this holding pattern, the market may be ready to take off one way or the other tomorrow, with the catalyst being the auction of the 30-year note.

Today we sold UWM for a loss and UYG for breakeven and bought FITB. Today's gap up open was a prime spot to book some profit, especially on the laggards.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Add'l Exit Guideline	Chart
SSO	25.06	27.38	+9.3%	26.43	N/A	Chart
FITB	7.42	7.34	-1.1%	6.90	N/A	Chart
CPSL	2.26	2.82	+24.8%	2.49	N/A	Chart
SPAR	10.48	11.30	+7.8%	9.90	N/A	Chart
TIE	11.03	11.04	+0.1%	10.31	N/A	Chart

50/50 again...

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
DXD (Ultrashort Dow 30)	46.46	44.29	N/A	Chart
SKF (Ultrashort Financials)	41.83	38.93	N/A	Chart
NGD (New Gold)	2.89	2.64	N/A	Chart
ACF (AmeriCredit)	14.41	13.46	N/A	Chart

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