Tuesday, May 13, we had two Stocks to Watch, one Extra Inning and two Around the Horn subscription trades on our radar. Of these, two were profitable, one was a scratch twice and two were no-shows.

Genco Shipping & Trading (GNK) was a Sinker short for Tuesday’s Stocks to Watch trade list. GNK opened above yesterday’s high, qualifying our setup. Our entry was triggered moments later and traveled down to yesterday’s closing lows before bouncing back up for a scratch or small profit. Second entry was triggered later in the morning, with an earlier opportunity off highs. Exit for these entries were off the bounce of the Central Pivot and cross of resistance.

Genco Shipping & Trading LTD, 5-Minute Chart


Excel Maritime Carriers LTD (EXM) was a Line Drive long for Tuesday’s Around the Horn subscription trade list. EXM hit our entry within the first hour of trading and stopped us out shortly thereafter. Second entry was shortly after that, and this time EXM traded quickly to the initial profit target and beyond. EXM touched the R1 level before trading back to the initial profit level. Exit was at this level with exit of any remaining shares on the pullback from R1.

Excel Maritime Carriers LTD, 5-Minute Chart


Extra Innings and Opportunities for Wednesday, May 14, 2008:

Manpower Inc, 30-Minute Chart


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