Wednesday, October 8, we had two Stocks to Watch on our radar. Of these, one had profit opportunities.

Lindsay Corp (LNN) was a Switch Hitter short for Wednesday’s Stocks to Watch trade list. An entry opportunity presented close to an hour into the session at a failure to trade up and through the R2 pivot. Exit was either at a bounce at the S1 pivot or for those with larger stops or partial shares remaining, off the pullback from lows way past the S2 pivot.

An alternate entry could have been made at the cross of the Central (red) pivot with a tight stop placed just above that level and an initial target of S1 (green) pivot. Though in this trade the next pivot move was also profitable (S1 to S2), we generally don’t originate an entry from the S1 or R1 to their further counterpart. In this case, there was a lot of trading keeping LNN at this level, not something that would indicate originating a new trade at this level.

Lindsay Corp (LNN), 5-Minute Chart


Extra Innings and Opportunities for Thursday, October 9, 2008:

FMC Corp (FMC), 30-Minute Chart


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