Trading Ideas for March 17, 2010

Positive sentiment from the Fed meeting yesterday is carrying over into today, with the futures comfortably in the green heading into the open. Big report due out at 8:30am ET with the Producer Price Index. Also, Bernanke will be speaking before a House Congressional committee at 2pm that could affect the markets late in the day - so be on the look out for that.

Both stocks in the portfolio are trending upwards very nicely, and BKS, with a positive market sentiment should hit the first price target of 22.31 today, in which I will sell half my position. That would equate to 2R return. I have also raised my stop-loss to 19.72. My stop-loss in UGI will remain as is for now.

Here are Today's Trading Ideas

Potential Swing Trade (Long): Taser Int'l (TASR) - Made new highs back in late February, and has since pulled back steadily to major support levels which includes the January highs, and the price level reached before the major gap up. Stop-loss should be placed at 6.07.

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