Monday, May 19, we had two Stocks to Watch and three Around the Horn subscription trades on our radar. Of these, one was profitable, two were losses, and two were no-shows.

Baker Hughes Inc (BHI) was a Line Drive long for Monday’s Around the Horn subscription trade list. BHI opened above yesterday’s high and pulled in immediately. About an hour into the session BHI hit our entry level, bobbled some then took off to the initial profit target and R1 pivot levels. Exit was at this level.

Baker Hughes Inc (BHI), 5-Minute Chart


Ensco International Inc (ESV) was Sinker short for Monday’s Around the Horn subscription trade list. ESV hit our entry within the first few minutes of trading and stopped us out shortly thereafter. Second entry was not long after that, but this time was the same.

Ensco International Inc (ESV), 5-Minute Chart


Whiting Pete Corp (WLL) was Sinker short for Monday’s Around the Horn subscription trade list. WLL hit our entry within the first few minutes of trading and stopped us out shortly thereafter, much like ESV. Unlike ESV, thankfully, there was no second entry. I will point out a pivot play that was possible on this trade, however. It is our original direction off of the R1 pivot, short on the resistance with an exit on the rapid reversal.

Whiting Pete Corp (WLL), 5-Minute Chart


Extra Innings and Opportunities for Tuesday, May 20, 2008:

Ensco International Inc (ESV), 30-Minute Chart


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