Wednesday we had six Stocks to Watch, three Extra Innings and two Around the Horn subscription trades on our radar. Of these, five hit for profits, four were scratches and two were no-shows.

Danaher Corp (DHR) was an Extra Inning on Wednesday from the Tuesday night’s Nightly Wrap column and hit our entry level shortly after the open. DHR traded between this level and R1 for a couple hours before slowly trading long and forming resistance that later became support mid-day. After the Fed announcement of unchanged rates, DHR was swept upward along with the rest of the market. Exit was end of day.

Danaher Corp


Lyondell Chemical (LYO) was an Extra Inning on Wednesday from the Tuesday night’s Nightly Wrap column and hit the aggressive entry off the open (10 cents above yesterday’s close) and the conservative entry a little while later (10 cents above yesterday’s high). LYO was a steady and steep ride to a high of 31.70 before descending almost as quickly. Exit was on this sharp decline and as it passed over the 8-period simple moving average.

Lyondell Chemical


Sysco Corp (SYY) was an Extra Inning on Wednesday from the Tuesday night’s Nightly Wrap column and hit our entry level within the first hour of trading. SYY hit resistance shortly thereafter. Exit was a breakdown from this level at the cross of the 8- and 20-period simple moving averages.

Sysco Corp


Noble Energy (NBL) was a Fast Ball setup from Wednesday’s Around the Horn subscription service. This one behaved according to plan, hitting our entry level mid-morning, trading up through the 50% to target level (where we pull stops up to breakeven) and just shy of the initial profit target before pulling back. NBL went on to the target and beyond before encountering persistant resistance. Exit was at a breakdown from this level at the target OR if trading with enough shares to make sense, Ã,½ of the shares are peeled off at the target and the remaining trade with a stop at or just below the 50% to target.

Noble Energy


Overseas Shipholding (OSG) was a Fast Ball setup for Wednesday in Tuesday nights Stocks to Watch column and hit our entry late in the day after the Fed announcement and subsequent market exuberance. It traded swiftly in our direction and made up for lost time. Exit was end of day.

Overseas Shipholding


Extra Innings for Thursday, February 1, 2007:

We will be watching for follow-through in the following:

APA


PPP


TDW


FHN


BDX


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