Tuesday, December 11, we had one Stocks to Watch, one Extra Inning and one Around the Horn subscription trade on our radar. Of these, all three were profitable.

Western Digital Corp (WDC) was an Infield Fly short for Tuesday’s Around the Horn subscription trade list. WDC hit the entry level mid-morning traded almost immediately down past the 50% to target to the initial profit target. Exit was at the initial profit target. A second entry was also present shortly thereafter, with profits at the initial profit target and beyond for any shares left open.

Western Digital Corp (WDC), 5-Minute Chart


Mcdermott International Inc (MDR) was a Line Drive long for Tuesday’s Stocks to Watch trade list. MDR hit the entry off the open and quickly traded up to a resistance level before beginning to slide back down. On a day like today, with the FOMC announcement that ended up disappointing, it was wise to take profits on the pullback from these highs.

Mcdermott International Inc (MDR), 5-Minute Chart


J.C. Penney Company Inc (JCP) was an Extra Inning long setup for Tuesday’s trading. JCP opened and traded down in the morning sessions to a consolidation level. JCP traded in this congestion level for most of the day. Later in the afternoon JCP broke out of this level, with an entry possibility here, or for more confirmation, on the pullback and re-cross of the entry level. Quick profits were to be made on the jump above this level and an exit on the reversal of intraday highs.

J.C. Penney Company Inc (JCP), 5-Minute Chart


Extra Innings and Opportunities for Wednesday, December 12, 2007:

As all trades hit today, I will be looking for more opportunities tomorrow night.

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.