Tuesday, February 26, we had three Stocks to Watch, two Extra Innings and three Around the Horn subscription trades on our radar. Of these, six were profitable, one was a scratch and one was a no show.

Reliance Steel & Alum Co (RS) was Line Drive long for Tuesday’s Around the Horn subscription trade list. RS opened below yesterday’s closing numbers and spent the first half hour trading up to our entry price. RS traded up to the 50% to target level before retracing back to our entry for a scratch stop. The trading was closely around this entry level and a second entry was in order. This second entry then traded up to the initial profit target and beyond. Exit was at the profit target.

Reliance Steel & Alum Co (RS), 5-Minute Chart


Cytec Industries Inc (CYT) was Fastball long for Tuesday’s Around the Horn subscription trade list. CYT hit the entry shortly off the open and traded within pennies of the 50% to target before retracing to the entry and below, but above our stop loss level. Thus, the trade was still alive when CYT started trading up and to our initial profit target. Exit was at this level.

Cytec Industries Inc (CYT), 5-Minute Chart


Canadian Natural Res Ltd (CNQ) was a Line Drive long for Tuesday’s Stocks to Watch trade list. An entry level for CNQ from last night’s article was suggested above 72.35. This was confirmed by a break above earlier consolidation. CNQ traded higher all morning until reaching a resistance level after noon over 2 points later. Exit was on the deceleration of upside momentum and cross of the 8 period moving average.

Canadian Natural Res Ltd (CNQ), 5-Minute Chart


Covance Inc (CVD) was Fastball long for Tuesday’s Stocks to Watch trade list. CVD traded very similarly to CNQ, although first entry resulted in a scratch, but second entry resulted in a point or more profit.

Covance Inc (CVD), 5-Minute Chart


Oil States International (OIS) was a long for Tuesday’s Extra Innings trade list. OIS had a nice entry above Monday’s highs and morning consolidation. Exit was on a breakdown from a consolidation at resistance midday.

Oil States Intl (OIS), 5-Minute Chart


Rowan Companies Inc (RDC) was a long for Tuesday’s Extra Innings trade list. RDC also had a nice entry above Monday’s highs and morning consolidation. Exit was on a breakdown from a resistance late morning.

Rowan Companies Inc (RDC), 5-Minute Chart


Extra Innings and Opportunities for Wednesday, February 27, 2008:

Becton Dickinson & Co (BDX), 30-Minute Chart


Developers Diversified (DDR), 30-Minute Chart


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