Wednesday, May 21, we had three Stocks to Watch, one Extra Inning and four Around the Horn subscription trades on our radar. Of these, three were profitable, one of these twice, one was a scratch with small profits and four were no-shows.

Arena Resources Inc (ARD) was a Sinker short for Wednesday’s Around the Horn subscription trade list. ARD opened above yesterday’s high, qualifying our setup, and kept going. Our entry was triggered toward end of day and the initial profit target hit within the next hour. Exit was at this level or below. Any remaining shares traded lower into end of day, with an exit at that time.

Arena Resources Inc (ARD), 5-Minute Chart


FMC Corp Com (FMC) was a Switch Hitter long for Wednesday’s Around the Horn subscription trade list. FMC opened just above our entry price, but within our acceptable 10 cent area. This was the first entry if you caught this tiger by the tail, with an exit at the profit target. Second entry was after a pullback below our entry level and trade back up through the price, with an exit again at the profit target.

FMC Corp Com (FMC), 5-Minute Chart


Whiting Pete Corp (WLL) was a Sinker short for Wednesday’s Around the Horn subscription trade list. WLL opened below yesterday’s high and did not immediately qualify as a trade. Later in the morning WLL did qualify and shortly afterward triggered our entry level. After trading quickly down to and kissing the initial profit target, WLL pulled back. Exit was at this level or as it pulled away from this level.

Whiting Pete Corp (WLL), 5-Minute Chart


Extra Innings and Opportunities for Thursday, May 22, 2008:

Allegheny Energy Inc (AYE), 30-Minute Chart


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