Tuesday, November 25, 2008, we had three Around the Horn Premium trades and five Stocks to Watch trades on our radar. Of these, two had profit opportunities and the rest were no-shows.

Medtronic Inc (MDT) was a Switch Hitter short for Tuesday’s Around the Horn premium trade list. MDT opened above yesterday’s highs and slowly began to trade lower. MDT hit our entry late in the first half of the session, but only tagging us in, traveling more than 10 cents against us before more than 10 cents in our direction, taking us out at a scratch stop. Later in the session, MDT hit our entry level and bobbled around, taking us for scratch stops only to trigger us back in. Sticking to it was essential here, with MDT next trading to the 50% to target level and lower to within 10 cents of the profit target before retracing back to the 50% to target level. We take a profit stop here.

Medronic Inc (MDT), 5-Minute Chart


Alliance Data Systems Corp (ADS) was a Line Drive short for Tuesday’s Stocks to Watch trade list. ADS opened gap-up and traded down to yesterday’s closing highs, forming a wide consolidation level. A break above this level signaled an entry with an initial stop at the highs. ADS traded to, and briefly above, the R1 pivot level but was unable to hold these highs. Exit was on this breakdown at the pivot.

Alliance Data Systems Corp (ADS), 5-Minute Chart


Extra Innings and Opportunities for Wednesday, November 26, 2008:

L-3 Communications Holdings Inc (LLL), 30-Minute Chart


URS Corp New (URS), 30-Minute Chart


Abbott Labs (ABT), 30-Minute Chart


Avon Products Inc (AVP), 30-Minute Chart


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