Thursday, April 3, we had two Stocks to Watch and four Around the Horn trades on our radar. Of these, three were profitable, two were scratch trades and one was a loss.

Fortune Brands (FO) was an Infield Fly short for Thursday’s Around the Horn subscription trade list. FO hit our entry just off the open and traded almost immediately lower to our initial profit target, with exit at the level or as close as possible.

Fortune Brands Inc (FO), 2-Minute Chart


Principal Financial Group (PFG) was an Infield Fly short for Thursday’s Around the Horn subscription trade list. The entry off of the open would have been on Nasdaq ticks, which we don’t count, but later in the afternoon PFG had closed its gap open and hit our entry. The first entry may have been a scratch, but any entry after that kept you in well below the stop loss and took you to the profit target toward end of day, with the exit at the level or as close as possible.

Principal Financial Group (PFG), 5-Minute Chart


Snap-On Inc (SNA) was an Infield Fly short for Thursday’s Around the Horn subscription trade list. The entry was off of the open with a sharp decline down to the 50% to target level before bouncing back to our entry level for a scratch stop. Second entry

Snap-On Inc (SNA), 5-Minute Chart


Chicago Bridge & Iron (CBI) was a Line Drive long for Thursday’s Stocks to Watch trade list. CBI had at least two entry opportunities, one off the morning pullback, and one above yesterday’s high. The trade was good until late afternoon, with an exit anytime on a failure to break higher.

Chicago Bridge & Iron (CBI), 5-Minute Chart


Extra Innings and Opportunities for Friday, April 4, 2008:

Principal Financial Group (PFG), 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.