Tuesday, February 3, 2009 we had two Around the Horn subscription trades, one Extra Inning and three Stocks to Watch on our radar. Of these, two yielded profits and the rest were no-shows.

Advance Auto Parts (AAP) was a Switch Hitter long for Tuesday’s Around the Horn subscription trade list. AAP opened and traded down to a support level from Monday’s trading. AAP then was lifted as the market lifted and took us to the entry level and consolidated for awhile at this price. AAP then began a climb into the close of trading, but first trading within 10 cents of our profit target, signaling our move to a profit stop at the 50% to target level. AAP then pulled back to that level and we were stopped out. That always leaves me hating this rule I made until I remember all of the times the rule has saved me a trip back to breakeven, empty handed.

Advance Auto Parts Inc (AAP), 5-Minute Chart


Resmed Inc (RMD) was a Switch Hitter long for Tuesday’s Around the Horn subscription trade list. RMD opened and traded lower on morning weakness before reversing with the broader market and triggering our entry level. It was then a slow and steady climb to and through our initial profit target. A trailing stop had us out at 40.89 but a stop at the initial profit target would have had this trade alive for another 30 cents or so.

Resmed Inc (RMD), 5-Minute Chart


Extra Innings and Opportunities for Wednesday, February 4, 2009:

Hasbro Inc (HAS), 30-Minute Chart


Convergys Corp (CVG), 30-Minute Chart


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