Autumn's Contrarian Ideas -- Third Update

NEW YORK (TheStreet) -- There is a little more than a month to go to end the autumn contrarian trading portfolio. The portfolio has rebounded slightly in the past two weeks and is now showing a gain of 0.6%.

We have only four of the nine positions open. The position in UltraShort Oil & Gas ProShares (DUG Quote) was stopped out on Nov. 11 for a gain of 3.7%. We immediately switched to open a position in Ultra Oil & Gas ProShares(DIG Quote). We reopened two of the previously closed positions since Nov. 2. UltraShort Financials ProShares(SKF Quote) was quickly stopped out again and the other, United States Natural Gas (UNG Quote), remains open.

Idea No. 1 -- Buy Natural Gas

This position has been closed since the stop-loss order was executed on Oct. 30 until we reopened with a buy at $9.10 on Nov. 12. The position has a trailing 10% stop-loss order, currently at $8.29, based on the intraday high of $9.21 on Nov. 12.

Idea No. 2 -- Buy North American Energy Production; Idea No. 4 -- Buy Corporate Bonds; and Idea No. 7 -- Sell the S&P 500, have been closed prior to this report period and haven't been reopened.