Around the Horn: Extra Innings for December 14 |
By Julie Peterson-Manz |
Published
12/14/2007
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Stocks
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Unrated
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Around the Horn: Extra Innings for December 14
Thursday, December 13, we had three Stocks to Watch, two Extra Innings and three Around the Horn subscription trades on our radar. Of these, three were profitable, three were scratch trades, one was a no-show and one was a loss.
Marriott International Inc (MAR) was a Fastball short for Thursday’s Around the Horn subscription trade list. Hit our entry off of the open and traded within the first half hour to the initial profit target. If some shares were left open, or traders were looking for an intraday play, MAR continued down later in the day after a consolidation on support, with an exit for any of these shares end of day.
Marriott International Inc (MAR), 10-Minute Chart
Manpower Inc (MAN) was a Fastball short for Thursday’s Around the Horn subscription trade list. Volatility was the game with this one and MAN hit the entry level shortly after the open only to bounce immediately to the stop loss level, with an exit at this level. Second entry was on the next five minute bar, trading down to the 50% to target level before taking us out again at breakeven. We could have done this all day, but we quit after second entry. Eventually MAN made it to the initial profit target, but every now and then you have to throw in the towel.
Manpower Inc (MAN), 10-Minute Chart
United Rentals Inc (URI) was a Fastball short for Thursday’s Around the Horn subscription trade list. URI hit our entry level in the morning, trading within 3 cents of our initial profit target before reversing. Exit was moved to the 50% to target level and took us out before the big move down. It would have been nice if URI had returned to the entry level before its move down, but that was not to be. Trader’s who only exit ? or some other percentage at the 50% to Target level, keeping a breakeven stop for the remainder were rewarded on this trade, seeing the initial profit target and beyond.
United Rentals Inc (URI), 5-Minute Chart
Digital Realty Trust (DLR) was an Extra Inning short for Thursday’s Stocks to Watch trade list. Entry was over the lunch hour and DLR traded down to a consolidation support level. Exit was toward end of day after moves to new intraday lows failed.
Digital Realty Trust Inc (DLR), 5-Minute Chart
Extra Innings and Opportunities for Friday, December 14, 2007:
Genentech Inc (DNA), 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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