Friday, February 29, we had three Stocks to Watch, three Extra Innings and four Around the Horn subscription trades on our radar. Of these, two were profitable, one was a loss, and the rest were no shows, two of which had intraday opportunities.

MGM Mirage Inc (MGM) was Fastball short for Friday’s Around the Horn subscription trade list. MGM opened, hit our entry and traded down to within 10 cents of our initial profit target. At that level the stop is moved to 50% to target level, and exit was at this level as an abrupt move to the upside was triggered by news that Kirkorian’s Tracinda may be considering a bid. A second entry was within an hour or so, ticking us in, trading further than the 10 cents in our favor to seal our fate in the trade, only to snap back to our stop loss (and waaaaaay beyond).

MGM Mirage Inc (MGM), 5-Minute Chart


Itt Educational Services (ESI) was a Switch Hitter short for Friday’s Stocks to Watch trade list. Entry level was 10 cents below Thursday’s low and made for a nice smooth ride through end of day, with an exit at this level for well over a point in profits.

Itt Educational Services (ESI), 5-Minute Chart


Unit Corp (UNT) was an Infield Fly short for Friday’s Stocks to Watch trade list. Entry level was suggested in Thursday’s column and entry was at this level in the morning. These are discretionary trades, so the first entry may have resulted in a scratch or the stop may have been wide enough to allow for the morning play, but either way, there were profits in the ride down mid-morning, with an exit off support and bounce off that intraday level and cross of the 8-period moving average on higher lows.

Unit Corp (UNT), 5-Minute Chart


Special Mention: We did have two Sinker trades on our Around the Horn subscription trade list that did not trigger as they did not trade up to Thursday’s highs to trigger the entry. Often times these become discretionary trades for intraday plays, so I am including charts of these suggesting potential intraday play opportunities. But to be clear, these trades are NOT included in trade results- for the service, these are considered “no-shows.”

Apache Corp (APA), 10-Minute Chart


Walter Industries Inc (WLT), 10-Minute Chart


Extra Innings and Opportunities for Monday, March 3, 2008:

Quest Diagnostics Inc (DGX), 30-Minute Chart


Alpharma (ALO), 30-Minute Chart


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