Thursday, May 22, we had three Stocks to Watch, one Extra Inning and three Around the Horn subscription trades on our radar. Of these, two were profitable, one was a loss, one was a scratch and three were no-shows.

Goodrich Corp (GR) was a Fastball short for Thursday’s Around the Horn subscription trade list. GR opened and traded higher before reversing and crashing through the entry level and almost immediately to the profit target. Exit is at this level, with remaining shares left open until a reversal through the S2 (yellow) pivot. If all shares were closed out at the profit target, an additional intraday play was a short from the S1 (green) to the S2 (yellow) pivot.

Goodrich Corp (GR), 5-Minute Chart


Genetech Inc (DNA) was a Fastball short for Thursday’s Around the Horn subscription trade list. DNA opened and volatility triggered our entry and DNA eventually stopped us out.

Genentech Inc (DNA), 5-Minute Chart


Allegheny Energy Inc (AYE) was an Extra Inning short for Thursday from this article. AYE opened and traded higher, up through the Central pivot. The trade back down through this pivot was a good place to go short, with a stop above the high of the day. The first target was S1, then S2. Depending on individual trading goals, either pivot made for a nice, profitable one.

Allegheny Energy Inc, 5-Minute Chart


Extra Innings and Opportunities for Friday, May 23, 2008:

Murphy Oil Corp (MUR), 30-Minute Chart


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