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.

Click here to See the Rest of My Trading Ideas.

Potential Swing Trade (Long): Aspen Insurance Holdings (AHL) – On a nice and steady upward climb since November of 2008, this stock has pulled back enough, without violating its trend line, to merit consideration for a long position. Consider playing your stop-loss at 26.89.

Potential Swing Trade (Long): PowerShares US Dollar (UUP) – has been on a major run for much of the new year, but over the last couple of weeks, has  pulled back some to the 50-day moving average. The last time it tested the 50 DMA, it rallied hard, and could do the same again. Stop-loss should be placed at 23.21.

You Might Like

  • The rise of the retail trader in the stock market.

    The Retail Trading Revolution: How Small Investors Are Reshaping the Stock Market

  • fading the gap

    Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day

  • how to trade a bear flag

    How to Trade a Bear Flag