Friday, October 10, we had two Around the Horn subscription trade and three Stocks to Watch on our radar. Of these, three were wiped out with gap-down opens and two were choppy at best.

Community Health Systems Inc (CYH) was a Fastball short for Friday’s Around the Horn subscription trade list. Entry opportunities were possible for most of the early-session, but volatility on Friday was the highest ever seen. CYH made two attempts down to the target but reversed at the 50% levels and we were scratched out at breakeven both times. Third time was definitely the charm here, but without us.

Community Health Systems Inc (CYH), 5-Minute Chart


Extra Innings and Opportunities for Monday, October 13, 2008:

Friday’s volatility wiped out our shorts by gapping them down, then finishing the day higher. I will be watching any suggestions from Stocks to Watch and the Weekly Market Outlook on Monday and looking for opportunity for continuation or confirmation for Tuesday.

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