Trade Ideas for 09/15/09

Tough outside day today. The market opened on a gap down, opening below Friday's low. But that was the low of the day, as the S&P proceeded to rise to new recovery highs, closing at the highest close so far during this rally. It's not so much that the market makes it that much higher, it's that all pullbacks are bought.

The outside day wreaked havoc on the system. On the gap down open we were stopped out of SOLF and SCHN and into QID and SRS. Then, as the market rose, we were stopped out of SRS and QID. On the bright side, the remaining holdings performed well, now with better-than-breakeven sell-stops, but the whipsaws hurt.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
HTZ	9.71	10.85	+11.7%	10.38	N/A	Chart
ARIA	2.26	2.75	+21.7%	2.49	N/A	Chart
V	70.44	72.87	+3.4%	71.49	N/A	Chart
SLB	58.43	59.81	+2.4%	58.49	N/A	Chart

We're going to tempt fate and see if the market will take us higher. Because the market can turn at any time, one short idea as well.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
WFR (MEMC Electronics)	17.58	16.94	N/A	Chart
CAEI (China Architectural Engineering)	1.96	1.79	N/A	Chart
AMZN (Amazon.com)	84.91	83.45	N/A	Chart
FXP (Ultrashort Xinhua 25)	9.51	8.99	N/A	Chart

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