Synergy Position Trade Letter

Learn more at http://www.swingtrader.net

Toni's Play of the Week:

Good day! The market remains rather sketchy at this point. After spending about 4 hours scanning last night and into this morning, I've decided to again hold off on new position trades at this time. I am expecting further downside in this market, but the main setups are as swingtrades and most moves on the weekly and monthly charts are well under way, having set up at about the same time I were initiating my other short positions into the end of last year and beginning of this. FDX, TRV, and ETN are a couple of things I'm looking at for swingtrade shorts into the new week.

To learn more about how I locate and trade the positions in this letter, check out my new CD course at http://www.swingtrader.net.

Chart provided by Townsend Analytics, Ltd.

Updates on Open Positions

View here for a complete track record since Dec. 2002.*

Positions in green have triggered and are profitable. Positions in red have triggered but are not yet profitable. Those in blue have not yet triggered.

3/3/2008 Stocks to watch: UHS long and DRQ short.

2/25/2008 Toll Brothers, Inc. (TOL) gave an initial buy setup on 2/26/2008 over $22.23. It has highs thus far of $24.50. This was a bit early on the daily and weekly time frame, so we may see another pullback on the daily chart before it is able to break higher again.

2/11/2008 USANA Health Sciences Inc. (USNA) gave an initial short trigger under $38 with resistance at $40.30. It has hit lows so far of $28.05 (+$9.95, +26.18%). $23 is the first target zone.

2/4/2008 Bank Mutual Corporation (BKMU), through its subsidiary, Bank Mutual, provides various financial products and services in the state of Wisconsin. BKMU has been stuck in a trading range since the end of 2003 after a strong upside move for over two years. The momentum has begun to swing in favor of an upside breakout from the range. We did miss a great daily entry a few weeks ago, but I'll be watching for continuation moves on the weekly time frame now.

2/4/2008 Patterson Uti Energy Inc. (PTEN) gave a watch list buy trigger on 2/4/2008 at $20.96. It has highs so far of $25.26 (+$4.30, +20.52%). Initial resistance hit.

2/4/2008 Community Bk Sys Inc. (CBU) gave a watch list buy trigger on 2/8/2008 over $22.24. It has highs so far of $23.94 (+$1.70, +7.64%).

2/4/2008 Mgic Invt Corp Wis (MTG) gave a watch list buy trigger on 2/21/2008 over $13.87. It has highs so far of $17.38 (+$3.51, +25.31%).

2/4/2008 Longs to watch: CHRW, TOL, THG (likely to take awhile and flush lower first), WABC Short: 2/4/2008 VITL

2/4/2008 AT&T (T) gave a watch list short trigger on 2/5/2008 under $37.94. It has lows so far of $32.95 (+$4.99, +13.15%).

2/4/2008 Unitrin Inc. (UTR) gave a watch list short trigger on 2/5/2008 at $40.00. It has lows so far of $33.26 (+$6.74, +16.85%).

1/14/2008 Lancaster Colony Corporation (LANC) gave a short setup on 1/15/2008 under $36.53. It has lows so far of $32.72 (+$3.81, +10.43%). $32 is the next support level, but if the momentum increases on the downside over the next several months then a long-term hold on LANC can bring it back into the $24-$26 zone. (Also given on the 7th as a watch list stock. Same entry trigger.) Some trailing stops hit.

1/7/2008 Safeco Corporation (SAF) gave an initial short trigger on 1/7/2008 under $52.46. It has lows so far of $43.32 (+$9.14, +17.42%). My target zone is $40 over the next 6 months.

1/7/2008 Chubb Corp. (CB) gave a watch list short trigger on 1/7/2008 under $53.01. It has lows so far of $46.72 (+$6.29, +11.87%).

1/7/2008 Pall Corp. (PLL) gave a watch list short trigger on 1/7/2008 under $38.74. It has lows so far of $33.37 (+$5.37, +13.86%). Some trailing stops hit.

1/7/2008 Aqua America Inc. (WTR) gave a watch list short trigger on 1/9/2008 under $21.04. It has lows so far of $17.96 (+$3.08, +14.64%).

12/10/2007 Bard C R Inc. (BCR) gave a watch list buy trigger on 1/7/2008 over $95.33. It has highs so far of $100.33 (+$5.00, +5.24%).

11/26/2007 Greif, Inc. (GEF) engages in the manufacture and sale of industrial packaging products, and containerboard and corrugated products worldwide. Back in 2005-2006 GEF had a very strong consolidation at its 52-week highs. In late 2006 it broke sharply out of that trading range into the end of the year. Since that point, however, it has fallen into yet another trading range at highs. Over the next couple of months I'll be monitoring GEF for more gradual corrections off the upper end of this range on light volume to begin building a position. I am looking for a break higher in GEF in mid-2008. This is a little premature at this point, but given the current market, most setups on the long side are going to need to take a bit more time to develop in order to qualify as much of anything other than a swingtrade or several week hold. (Early trigger on Nov. 28.)

11/26/2007 Savient Parmaceuticals Inc. (SVNT) (early buy trigger on Nov. 28 - This is now too late unless using a swingtrade entry and stop on corrections)

11/12/2007 Cintas Corporation (CTAS) provides specialty products and services, such as corporate identity uniforms, to various businesses in the United States and Canada. CTAS recently broke lower out of a descending triangle. I am expecting a move in CTAS into about $20. The current price location is not ideal on a daily time frame, so a bear flag or such on that chart would be worth watching for a lower risk entry trigger. $39. is resistance. (Higher risk entries available for those building a position already beginning at the $34 zone.) No longer of interest as a new position.

11/12/2007 Archer Daniels Midland Co. (ADM) gave an initial buy trigger on 11/12/2007 over $37. It has highs so far of $47.33 (+$10.33, +27.92%).

11/12/2007 Lilly Eli & Co. (LLY) gave a short setup on 12/31/2007 under $53.71. It has lows of $49.38 (+$4.33, +8.06%).

11/5/2007 Magellan Health Services, Inc. (MGLN) gave an initial buy trigger on 11/5/2007 over $46.08. It has highs so far of $49.25 (+$3.17, +6.88%). This stock may easily congest or pullback now for several months, so consider that a current risk for those looking to hold long-term since the monthly trigger was a bit early on this one.

10/22/2007 NDS Group (NNDS) gave an early buy trigger on 11/28/2007 over $56. It has highs so far of $63.57 (+$7.57, +13.52%). Now giving the larger weekly correction we were looking at.

9/24/2007 Martek Biosciences Corp. (MATK) gave an initial buy trigger on 9/24/2007 over $28.84. It has highs so far of $34.70 (+$5.86, +20.32%).

9/24/2007 Bard C R Inc. CR (BCR) gave a buy trigger on 9/26/2007 over $87.46. It has highs so far of $100.33 (+$12.87, +14.72%).

9/10/2007 Cheesecake Factory Inc. (CAKE) gave an initial short trigger on 9/10/2007 under $24.07. It has lows so far of $17.24 (+$6.83, +28.38%). Shorter term trailing stops hit.

9/10/2007 Automatic Data Processing Inc. (ADP) gave a short setup on 9/10/2007 under $44.61. It has lows of $37.75 (+$6.86, +15.38%).

9/10/2007 International Rectifier Corp. (IRF) gave a short setup on 9/10/2007 under $33.23. It has lows of $21.14 (+$12.09, +36.38%).

9/10/2007 Newmont Mining Corp. (NEM) gave a buy setup on 9/11/2007 over $44.79. It has highs of $57.55 (+$12.76, +28.49%). Most trailing stops hit.

9/10/2007 Goldcorp Inc. New (GG) gave a buy setup on 9/11/2007 over $26.44. It has highs of $44.87 (+$18.43, +69.70%).

8/6/2007 Chesapeake Energy Corporation (CHK) gave an initial setup on 8/31/2007 over $32.06, but it can still have one more flush left in it on the monthly time time. It has highs of $46.93 (+$14.87, +46.38%). Initial targets hit. Some trailing stops hit.

12/4/2006 Chesapeake Energy Corp. (CHK) gave a buy setup on 2/23/2007 at $30.08. It reached highs of $46.93 (+$16.85, +56.02% move) so far. Initial targets hit. Some trailing stops hit.

3/27/2006 Berkshire Hathaway, Inc. (BRK.B) gave a breakout on 5/16/2006 over $3000. It has highs of $5059.00 (+$2059, +68.63% move). Some trailing stops hit.

* DISCLAIMER: Results are based upon best price hit before the position was closed, or the stop if that hit first. Note: Trading in commodities and securities may not be suitable for all individuals. Consult your broker or other professional to determine your suitability. The discussions provided by Trading From Main Street are for educational purposes only and should not be taken as a recommendation to buy or sell the referenced security. Past performance is not indicative of future results.

The above disclaimer and copyright is applicable to all material published on behalf of the Bastiat Group. including, but not limited to, the Morning Watch and News Letter and Weekly Position TradER.