Another Trade Ideas pick reached its 6% target. The 100 share lot closed for a +$419 gain . Equity exposure in the portfolio has been reduced to 27% from 44% in light of a market (the Nasdaq primarily) which looks to be slowly rolling over. The March-May gains have been good but it looks like it is time to turn cautious once more. The Trade Ideas scan picked up its buying pace from yesterday's sluggish action. The top-8 picks covered 2 minutes . A "20-appearance" list would have covered almost 4 hours (stocks not shown) Collective2

The Russell 2000 continued to struggle below 830-831 resistance but the S&P, Nasdaq and Nasdaq 100 enjoyed a better day, each pushing a new closing high for the year - following the lead of the Dow yesterday (which in itself closed at a new high for the year). However, the Trade Ideas scan dropped into bearish territory with its top-8 picks covering 29 minutes and the "20-appearance" list ranging over 2 hours and 12 minutes ; bulls found today a little harder to keep the pressure on bears. If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

Yesterday's ground work by the bulls helped set up Wednesday's substantial rally to bring the indices back to their former highs, with the Dow at a new high. The index to watch is the Russell 2000 as it was the one to be hit hardest by Monday's selling and is just below key resistance at 830-831, including former support (now resistance) of its former rising channel. Other indices remain just below their April highs. The Trade Ideas maintained its second day of bullish form with the top 8 picks covering 4 minutes and the "20-appearance" list at 55 minutes . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

Black Hills Corp ( BKH ) was another Trade Ideas 3:1 risk play on a 2% stop. The last four days have seen strong volume with increasing bullish strength. Bullish momentum could see it test a projected target of $43.50 but for my purposes the trade is considered exited. The 300 shares closed for a +$681 profit. Collective2

Good spell from the bulls, bringing the markets off their lows for a slightly higher close (with the exception of the Dow which regained all of its losses, but did so on lower volume). The Trade Ideas scan picked up the pace; the top 8 picks came in at a respectable 3 minutes ; the "20-hit" list covered just over an hour . There was a significant uptick in volume for the indices - the question is whether Monday's losses can be recouped (particularly for small caps). If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

Entravision Communications ( EVC ): Unfortunate break of 3-week support after the stock had initially managed to break $10.25 resistance. Stochastics had weakened through the 3-week consolidation and are not oversold enough to suggest the downside is done. The 50-day MA is looking like a logical support level. The 600 share lot closed for a +$612 ( 12% ) profit. Collective2

In my weekend post I had highlighted the importance of channel support for the Russell 2000 . Given the comprehensive break in this index one would have to be skeptical for the prolonged health of the other indices. The Trade Ideas scan significantly slowed to 56 minutes for the top 8 picks, and only 6 picks for the "20-appearance" list: If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas