Thursday, January 15, 2009, we had five Around the Horn premium trades and three Stocks to Watch trades on our radar. Of these, one had profit opportunities, one was a small loss and the rest were no-shows or scratches.

Eaton Vance Corp (EV) was a Fast Ball short Around the Horn premium trade for Thursday. EV opened and traded to yesterday’s closing range before heading lower. EV found support at the S1 pivot level and just under our 50% to target area. Here we moved our stop to the breakeven level and wait to see what happens. EV held this level for most of the day before trading higher and signaling our exit at breakeven.

Eaton Vance Corp (EV), 5-Minute Chart


Navigant Consulting Inc (NCI) was a Fast Ball short Around the Horn premium trade for Thursday. NCI hit our entry level a couple of hours into the session and traded slowly and with a consolidation down to the 50% to target level, signaling us to move our profit stop to breakeven. NCI then traded down to within 10 cents of the profit target, where we move our stop to the 50% to target level. Unfortunately this was as low as NCI was going today and we exited at the 50% to target level.

Navigant Consulting Inc (NCI), 5-Minute Chart


Extra Innings and Opportunities for Tuesday, January 20, 2009:

Harris Corp (HRS), 30-Minute Chart


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