Bringing you some promising trade ideas each trading day

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Wednesday, July 22, 2009

Trade Ideas for 07/23/09

The market churned higher after yesterday's mini-pullback, but fell back at the close. Now we've had a couple of choppy sessions after a near-vertical rise. If the market can get above today's high, it's set up for another strong move up; failing that, a quick move down.

We bought CKR, but the market stopped us out not long afterward.

Current Holdings
Ticker Basis Closing
Price
Perf. Sell-Stop Addl Exit Guideline Chart
CFSG 12.36 14.75 +19.3% 14.20 N/A Chart
AHL 23.43 25.80 +10.1% 24.96 N/A Chart
MTL 9.19 9.05 -1.5% 8.72 N/A Chart


Pushing the same mix of possibilities for tomorrow.

New Trade Ideas
Ticker Entry Exit A Exit C Chart
SLV (Silver ETF) 13.56 13.20 N/A Chart
TWM (Ultrashort Russell 2000) 40.51 38.21 N/A Chart
TSL (Trina Solar) 29.51 27.83 N/A Chart

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

2 comments:

Ben said...

I feel lucky to find your blog actually one of my friend suggested me. Does your trade ideas only hold for the next day or can we buy after the entry price. Why i am asking is today GRMN had a breakout which you had in your ideas yesterday.

Chris said...

Hey, thanks for the comment!
The trade ideas carry over if the price levels remain valid, for example, if the low hasn't been violated by more than 2%. Many times they are on my personal list (the trade ideas aren't meant to be an exhaustive list, and I try to keep it down to 2-3 ideas, 4 & 5 is pushing it). A lot of the ideas that don't work that very day end up working the second day. But use the same breakout price. GRMN, on a breakout of 25.01 on 7/22, is a great example, ABAT did the same thing on a smaller scale the other day.