Around the Horn: Extra Innings for October 26 |
By Julie Peterson-Manz |
Published
10/26/2007
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Stocks
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Unrated
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Around the Horn: Extra Innings for October 26
Thursday we had three Stocks to Watch, three Extra Innings and three Around the Horn subscription trades on our radar. Of these, five hit for profits, and four were no-shows.
Aflac Inc (AFL) was a Sinker short for Thursday’s Around the Horn subscription trade list. First entry was off a testing of Wednesday’s highs off the open, but resulted in a scratch after trading below the 50% to target level and bouncing up to breakeven. Second entry on AFL was almost immediately subsequent to the exit (not ideal, but hey, it’s trading) on a move through the entry level. This time did the trick, trading down to and through the initial profit target. Exit was at or below this level, but at the very least as it traded back up through this level.
Aflac Inc, 5-minute Chart
Coach Inc (COH) was a Backdoor Slider short for Thursday’s Stocks to Watch trade list. Entry was in the morning and COH consolidated at that level for a good hour or so. Contracting volatility led to the expected move lower, with a steady decline until a bounce off the 35-dollar area. Exit was on the bounce up from these lows and cross of the 8-period moving average.
Coach Inc, 5-Minute Chart
William Wrigley Jr Co (WWY) was a Fastball short for Thursday’s Stocks to Watch trade list. Entry was shortly after the open. WWY proceeded to consolidate for the rest of the morning and into the afternoon, when WWY traded sharply down. Exit was off lows on the bounce up and through the 8-period moving average.
William Wrigley Jr Co, 5-Minute Chart
Pogo Producing Co (PPP) was a long Extra Inning setup for Thursday from this Nightly Wrap column. Entry was in the morning, with a steady climb to highs and exit off the fall from highs and through the 8-period moving average.
Pogo Producing Co, 5-Minute Chart
Millipore Corp (MIL) was a long Extra Inning setup for Thursday from this Nightly Wrap column. Entry was in the morning, with a steady climb to highs and exit off the fall from highs and through the 8-period moving average.
Millipore Corp, 5-Minute Chart
Extra Innings and Opportunities for Friday, October 26, 2007:
Cec Entertainment Inc, 30-Minute Chart
P.S. If you enjoy my column and would like to join our Intraday Trading Plan, try it free for a week. Click here to start receiving our best trading setups for every trading day.
Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at julie@traderinsight.com.
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