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Around The Horn: Extra Innings For December 12
By Julie Peterson-Manz | Published  12/12/2008 | Stocks | Unrated
Around The Horn: Extra Innings For December 12

On Thursday December 11, 2008 we had three Around the Horn premium trades, two Extra Innings and two Stocks to Watch on our radar. Of these, one was profitable and two were losses. It is disappointing to have had several rough days this week as the volatility whips us around, up one day, down the next and intraday a real circus. But time has taught us again and again that sticking with our plan is profitable within each month and now is time for us to look to the forest, not the trees.

Anglogold Ashanti Ltd (AU) was a Line Drive long’s Around the Horn premium trade for Thursday trading. AU hit our entry an hour into the session from a gap down open. AU ran out of steam just below the 50% to target level where the stop would have been moved to breakeven. Exit was at the stop loss.

Anglogold Ashanti Ltd (AU), 5-Minute Chart


Enbridge Energy Partners (EEP) was a Fast Ball long Around the Horn premium trade for Thursday’s trading. EEP traded up through our price and to the 50% to target early to mid-session, only to trade back to the entry for a breakeven stop. Later we were again triggered in, and this time took a trip to the stop loss.

Enbridge Energy Partners (EEP), 5-Minute Chart


PPG Industries Inc (PPG) was an Extra Inning short trade for Thursday’s trading. PPG had a few different entry opportunities off of the Central and S1 pivots. Exit was end of day.

PPG Industries Inc (PPG), 5-Minute Chart


Diana Shipping Inc (DSX) was an Infield Fly short Stocks to Watch trade for Thursday’s trading. DSX had some entry opportunities later in the session on the breakdown of consolidation or the S1 pivot as the market was selling off.

Diana Shipping Inc (DSX), 5-Minute Chart


Extra Innings and Opportunities for Friday, December 12, 2008:

Tomorrow I will be watching for follow through in DSX and TIF, below, if the market trends down.

Diana Shipping Inc (DSX), 30-Minute Chart


Tiffany & Co (TIF), 30-Minute Chart



P.S. If you enjoy my column and would like to join our Intraday Trading Plan, try it for one week for $5.  Click here to start receiving our best trading setups for every trading day.

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