Around the Horn: Extra Innings for March 11 |
By Julie Peterson-Manz |
Published
03/11/2008
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Stocks
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Unrated
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Around the Horn: Extra Innings for March 11
Monday, March 10, we had four Stocks to Watch, four Extra Innings and two Around the Horn subscription trades on our radar. Of these, six were profitable, one was a loss and three were no-shows.
Becton Dickinson & Co (BDX) was an Extra Inning short for Monday’s trade list. On such choppy days, this was a fairly smooth ride through end of day.
Becton Dickinson & Co (BDX, 5-Minute Chart
Air Products & Chemicals (APD) was a Stocks to Watch Fastball short for Monday’s trade list. APD hit the entry off the open, trading quickly down two points before pulling back. Exit was on this pullback, or end of day for trader’s with wider stops.
Air Products & Chemicals (APD), 5-Minute Chart
Cardinal Health Inc (CAH) was a Stocks to Watch Backdoor Slider short for Monday’s trade list. CAH hit our suggested entry level mid-morning and consolidated in this area for a couple of hours before trading lower. Exit was end of day.
Cardinal Health Inc (CAH), 5-Minute Chart
Cooper Companies Inc (COO) was a Stocks to Watch Fastball short for Monday’s trade list. The suggested entry hit late morning and the trade consolidated at lows through end of day.
Cooper Companies Inc (COO) 5-Minute Chart
International Paper Co (IP) was a Fastball short for Monday’s Around the Horn subscription trade list. IP triggered off the open, trading to within 12 cents of our profit target before reversing and stopping us out at breakeven. Within a dime of our profit target, we would have set a profit stop at 50% to target. A second entry in the afternoon resulted in an exit end of day near or below the 50% to target.
International Paper Co (IP), 5-Minute Chart
Terra Industries Inc (TRA) was a Fastball short for Monday’s Stocks to Watch trade list. TRA triggered off the open, trading down over a point and a half before pulling back in. Exit was at this level or end of day for traders with wider stops.
Terra Industries Inc (TRA), 5-Minute Chart
Magna International Inc (MGA) was a Switch Hitter short for Monday’s Around the Horn subscription trade list. MGA whipped around this morning, hitting our entry off the open only to take us to a stop, then tagging us in again, but stopping us out at 10 cents against us as it had not first traveled 10 cents in our favor.
Magna International Inc (MGA, 5-Minute Chart
Extra Innings and Opportunities for Tuesday, March 11, 2008:
Partnerre Ltd (PRE), 30-Minute Chart
Orient Express Hotels (OEH), 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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