Trade Ideas for 09/22/09

Markets were mixed Monday with Nasdaq up and the others down. Price fell hard at the open but recovered. The overlapping price action since last Thursday suggests that prices have been consolidating the move up, rather than gearing up for a crash. This is further reinforced by the fact that the Nasdaq hit a new recovery high intraday today. But let's see what the market gives us. Tomorrow's another Fed day, so I'm expecting a volatile session come 2:15 PM. [Edit: Fed's meeting is 2-day, so announcement comes Wednesday 2:15]

We entered short positions in FXP, DXD and DUG, and sold V and SLB for profits.

Current Holdings
Ticker	Basis	Closing Price	Perf.	Sell-Stop	Addl Exit Guideline	Chart
FXP	8.96	8.98	+0.2%	8.43	N/A	Chart
DXD	34.92	34.69	-0.7%	34.14	N/A	Chart
DUG	14.31	14.20	-0.8%	13.73	N/A	Chart
WFR	17.58	18.63	+6.0%	18.14	N/A	Chart

I think we have enough short positions to cover the downside case. Just longs for tomorrow.

New Trade Ideas

Ticker	Entry	Exit A	Exit C	Chart
EL (Estee Lauder)	37.18	36.23	N/A	Chart
GA (Giant Interactive)	7.86	7.68	N/A	Chart

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