Friday we had four Stocks to Watch and three Around the Horn setups and three Extra Innings on our watch list. Of these, three hit for profits and seven were no-shows, some of which are setup for Tuesday.

Manor Care (HCR) was a Fastball Around the Horn setup for Friday. It was gapped slightly higher on the open, dropping into Thursday’s highs for most of the morning. The planned stop for HCR was at 48.40, so even an early entry was kept alive. The better entry was mid-day and was good until end of day, when time ran out at the 50% to target level.

Manor Care

Jack in the Box (JBX) was a Line Drive Around the Horn setup for Friday that hit the entry mid-morning and consolidated around that level. Afternoon is when the push upward began, running out of time just shy of the 62.84 initial profit target.

Jack in the Box

Thermo Fisher Scientific (TMO) was a Sinker setup on Friday’s Stocks to Watch column. TMO traded up most of the morning. Just after midday, TMO took a turn to the downside. There were at least two good entries, one when it broke down from the consolidation, and another when it paused before resuming it’s decent. Exit for either was end of day when it crossed the 8- and the 20-period simple moving average.

Thermo Fisher Scientific

Extra Innings for Tuesday, January 16th:

• We will be watching TMO for potential weakness.
• CI didn’t quite make its move to the long side and we’ll have this on the list as well.

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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at Julie@peterson-manz-trading.net.