Trade Ideas for 07/28/09

The market ground higher today, but never got near its overnight high—those of you who have access to futures charts may have noticed that overnight the S&P futures hit 984, implying a price of about 987-8 in the cash index (S&P proper). This still has the potential to go parabolic, but it needs to stop grinding and start soaring soon. Let the market prove it can pull off such a feat by clearing today's high tomorrow, or at least staying above today's lows.

We bought all of yesterday's ideas, except for CPSL, which gapped up above our buy price. We sold FAS at the end of the day for a profit of about a dollar per share. Coincidentally, that was about the amount of profit we got on today's sale of TSL, too.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
AHL	23.43	26.06	+11.2%	25.45	N/A	Chart
MTL	9.19	11.33	+23.3%	10.29	N/A	Chart
SLV	13.56	13.84	+2.1%	13.49	N/A	Chart
DNN	1.81	1.81	0	1.64	N/A	Chart
MPEL	5.43	5.53	+1.8%	5.15	N/A	Chart
RIMM	77.81	77.54	-0.3%	75.75	N/A	Chart

Let's see if the market can do it. If it can't, be prepared to get stopped out of all your positions. On the short side, TZA would work on a market collapse, but be sure to sell it by the close in any case. This is another one that we're not holding overnight.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
PCU (Southern Copper)	26.01	25.19	N/A	Chart
IBM	118.16	116.49	N/A	Chart
AIR (AAR Corp.)	19.23	18.44	N/A	Chart
FCL (Foundation Coal)	36.47	33.93	N/A	Chart
TZA (Small Cap Bear 3x)	18.17	16.92	N/A	Chart

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