Tuesday, October 28, we had three Around the Horn subscription trades, one Extra Inning and three Stocks to Watch on our radar. Four of these had profit opportunities.

Baldor Elec Co (BEZ) was a Switch Hitter short for Tuesday’s Around the Horn subscription trade list. BEZ hit the entry an hour or so into the session. BEZ traded lower and through the 50% to target level before pulling back and trading down within 10 cents of the initial profit target. We then move our stop to the 50% to target level. Exit was at this level.

Baldo Elec Co (BEZ), 5-Minute Chart


Applied Biosystems Inc (ABI) was a Fast Ball short for Tuesday’s Stocks to Watch trade list. ABI triggered the suggested entry level in the morning but almost immediately bounced back up. As this is a Fast Ball that failed on a strong market day (with the DOW ending the day over 800 points higher) I began to watch for the consolidation that would signal an intraday Checked Swing long entry. Mid-session was a breakout of just such a consolidation. Exit was end of day.

Applied Biosystems Inc (ABI), 5-Minute Chart


Airgas Inc (ARG) was a Switch Hitter short for Tuesday’s Stocks to Watch trade list. ARG opened on the Central pivot, and even though our suggested entry was below this level, the consolidation at this level had us looking for an entry on a break below this level. Either entry was in the money, with an exit as ARG stalled out at the S2 pivot level.

Airgas Inc (ARG), 5-Minute Chart


Humana Inc (HUM) was a Fast Ball short for Tuesday’s Stocks to Watch trade list. HUM triggered the suggested entry level an hour or so into the session and kept trading lower. Exit was on the bounce off lows and mostly red 5 minute candles that turned into mostly green candles on their way back to the S1 pivot.

Humana Inc (HUM), 5-Minute Chart


Extra Innings and Opportunities for Wednesday, October 29, 2008:

As today’s trades were all in the short direction and the day ended so strongly positive, there are no follow-through set-ups for Wednesday. I will be looking for more opportunities in tomorrow’s trades.

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