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Around The Horn: Extra Innings For October 6
By Julie Peterson-Manz | Published  10/6/2008 | Stocks | Unrated
Around The Horn: Extra Innings For October 6

Thursday, October 2, we had three Around the Horn subscription trades and three Stocks to Watch on our radar with four of these yielding profits and two gapping past our entries to trade to new lows.

Abercrombie & Fitch Co (ANF) was a Switch Hitter short for Thursday’s Around the Horn subscription trade list. ANF hit the entry a within the first hour of the session. ANF traded lower, but not quite to the 50% to target level before hitting the entry again (a good second chance if you missed it the first time). This time ANF traded down to the 50% to target level, widely consolidated there for awhile before trading lower, below the pivot to the initial profit target. Exit was at this level.

Abercrombie & Fitch Co (ANF), 5-Minute Chart


MSC Indl Direct Inc (MSM) was a Fastball short for Thursday’s Around the Horn subscription trade list. MSM hit the entry level in the morning and traded quickly down to the initial profit target. Exit was at or below this level.

MSC Indl Direct Inc (MSM), 5-Minute Chart


Thursday had three Stocks to Watch, all of which had nice pivot plays short.

Dresser-Rand Group Inc (DRC), 5-Minute Chart


Bunge Limited (BG), 5-Minute Chart


Alpha Natural Resources Inc (ANR), 5-Minute Chart


Friday, October 3, we had two Around the Horn subscription trades and three Stocks to Watch on our radar with two of these yielding profits and three no-shows.

Graco Inc (GGG) was a Fastball short for Friday’s Around the Horn subscription trade list. GGG hit the entry later in the session and traded within 10 cents of the initial profit target. At this point, we set a trailing stop at the 50% to target level. Exit was at or below this level. Second entry was a repeat of the first.

Graco Inc (GGG), 5-Minute Chart


Energy Transfer Partners (ETP) was a 3-2 Pitch short for Friday’s Stocks to Watch trade list and had at least one profitable pivot trading opportunity.

Energy Transfer Partners (ETP), 5-Minute Chart


Extra Innings and Opportunities for Monday, October 6, 2008:

Encana Corp (ECA), 30-Minute Chart


Unisource Energy Corp (UNS), 30-Minute Chart


P.S. If you enjoy my column and would like to join our Intraday Trading Plan, try it for one week for $5.  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.