What cartrige will you be using? That is very important on your choice!
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+ the Jelco very good arm for the money well made and easy to set up. easily bests many at double the price imo. Get a 750 in the length you like as your denon will handle even the 12" but you can get the 750 in the 9" with the upgraded tone arm cable (must) for well in your budget. may even get a longer one. you do have to buy a tone arm cable though they don't come with one. figure out if you need a straight or angled plug were it goes into the bottom of the arm. I got a 750 12" look on my profile and see it mounted if you want a picture.
@cjaronica For Denon 103 you can buy the Thomas Schick "12 tonearm ("9 version is also alailable). This is the most elegant tonearm on the market, made in Germany. It was designed for low compliance cartridges such as DL103 and SPU. I strongly recommend Schick "12 over the Jelco of any kind. Here you can check my Schick on SP10mk2: https://scontent-ams3-1.xx.fbcdn.net/v/t1.0-9/12509532_1164899840194848_2010020422879701462_n.jpg?oh...