Trade Ideas for 7/17/09

Some ideas are below.{+++}

After the large rally we have experienced this week, there are not a lot of what appear to be low risk long trade setups but THQI and VRTX are worth keeping an eye on today.   One vulnerable looking stock is ITG which probably needs to see a drop down through ~1875 to gather downward momentum.  As always, keep stops reasonable and never go to heavy in any one stock.

We have two open positions right now.  We have a 1/3 postion left in ALD with a stop at breakeven (3.50) and we are long INCY from 3.76 with a stop currently at 3.79.