Trade Ideas for 06/18/09

Small range day today, and with the open and close at the same price, we printed a doji on the daily candlestick chart. The "obvious" thing for the market to do now is bounce, as momentum has slowed right at the 200-day moving average, and the doji tends to mark a turning point of some degree. The market often does the "obvious" thing, although it's important not to depend on that.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Add'l Exit Guideline	Chart
DUG	16.54	17.67	+6.8%	14.99	N/A	Chart
SCC	61.84	64.59	+4.4%	58.27	N/A	Chart
QID	32.81	33.16	+1.1%	30.85	N/A	Chart

Gold is at an interesting place, having corrected down to its 50-day moving average. It could bounce here, so I've picked a couple miners that could work. Or it might just keep correcting, so an inverse gold pick as well. Meanwhile, ABK is a short-squeeze candidate.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
NG (Novagold)	5.22	4.69	4.40	Chart
AUY (Yamana Gold)	9.42	8.84	N/A	Chart
GLL (Ultrashort Gold)	15.42	14.94	N/A	Chart
ABK (Ambac)	1.31	1.16	N/A	Chart

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