Thursday November 13, 2008 we had five Around the Horn premium trades, two Extra Innings and three Stocks to Watch on our trade list. Of these nine were profitable, including Canadian Imperial Bank of Commerce (CM) but unfortunately it was not borrowable from the extensive short trading list of our broker, Terra Nova Trading.

Omnicom Group Inc (OMC) was a Fast Ball short for Thursday’s Around the Horn premium trade list. OMC hit our entry early, trading quickly to the initial profit target. Exit was at this level.

Omnicom Group Inc, 5-Minute Chart


Manulife Financial Corp (MFC) was a Fast Ball short for Thursday’s Around the Horn premium trade list. OMC hit our entry early, trading quickly to the initial profit target. Exit was at this level.

Manulife Financial Corp, 5-Minute Chart


Anglo Gold Ashanti LTD (AU) was a Fast Ball short for Thursday’s Around the Horn premium trade list. AU hit our entry level and hour and one-half into the session. Once AU started heading lower, it was a fairly steady decent to the profit target. Exit was at this level.

Anglo Gold Ashanti LTD, 5-Minute Chart


Gardner Denver Inc (GDI) was a Fast Ball short for Thursday’s Around the Horn premium trade list. GDI hit our entry level toward mid-session and traded steadily down to and beyond the initial profit target. Exit was at this level or the bounce back up to the profit target level off the doji morning star reversal pattern and first green bar after the long series of red bars.

Gardner Denver Inc, 5-Minute Chart


Affiliated Computer Services (ACS) was a Fast Ball short for Thursday’s Stocks to Watch trade list. ACS had an entry opportunity an hour or so into the session after two failed attempts to break up through the central pivot and then a breakdown from a consolidation. ACS then drifted slowly down to the S1 then S2 pivot levels before bouncing off this lower pivot level. Exit was on this bounce back up to the S1 pivot level.

Affiliated Computer Services, 5-Minute Chart


USG Corp Com (USG) was a Fast Ball short for Thursday’s Stocks to Watch trade list. USG had an entry opportunity shortly after the open below yesterday’s closing lows. Exit was on the reversal off of support.

USG Corp Com, 5-Minute Chart


Titan Intl Inc (TWI) was a short for Thursday’s Extra Inning trade list. TWI had an entry opportunity mid-morning on a failure to convincingly break up through the Central Pivot. Exit was on the failure to break down through the S1 Pivot level.

USG Corp Com, 5-Minute Chart


Reynolds American Inc (RAI) was a short for Thursday’s Extra Inning trade list. RAI had an entry opportunity mid-session on a break down through the S1 Pivot. Exit was on the break up through the S2 Pivot level.

Reynolds American Inc, 5-Minute Chart


Extra Innings for Friday, November 14, 2008:

The switch-back today blew out any follow-through short opportunities for tomorrow, but I will be looking for more opportunities tomorrow.

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