Thursday, January 17, we had three Stocks to Watch and one Around the Horn subscription trades on our radar. Of these, one was profitable, one had many profit opportunities but relied on a trader’s skills, and two were scratch trades.

Genesco Inc (GCO) was a Backdoor Slider short for Thursday’s Stocks to Watch trade list. An entry below yesterday’s low corresponded with a drop below today’s opening levels. A ride with the general markets all day long resulted in an exit end of day with a point in profits.

Genesco Inc (GCO), 5-Minute Chart


Murphy Oil Corp (MUR) was a Fastball short for Thursday’s Stocks to Watch trade list. I have the chart for MUR below, with suggested arrows for short entries. This is a fast one, however, with the opportunity for both profit and switch back losses. It is very important on fast stocks like these to predetermine stop levels before entering all trades. The last arrow is actually my favorite suggestion, with a logical stop level of 35 to 40 cents at the peak of that pullback for a potential gain down to the last low (which ended up happening, but there are no guarantees!).

Murphy Oil Corp (MUR), 5-Minute Chart


Extra Innings and Opportunities for Friday, January 18, 2008:

Energizer Holdings, (ENR) 30-Minute Chart


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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at julie@traderinsight.com.