On Thursday, we had eight Stocks to Watch, four Around the Horn subscription trades and six Extra Innings on our radar. Of these, five hit for profits, one hit for a small loss, five were scratches, mostly to the upside and seven were no-shows.

Advanced Medical Optics (EYE) was a Fast Ball long setup from Wednesday’s Around the Horn subscription service. EYE hit the entry level right off the open and shot past the R1 pivot before finding resistance past the initial profit target at R2. Exit was either off the pullback from this level (1) or at end of day if some shares were left open (2).

Advanced Medical Optics


MGIC Investment (MTG) was a Fast Ball long setup from Wednesday’s Around the Horn subscription service. This one gapped down and kept going well past the initial profit target. We generally only enter off a gap if it is within 10 to 15 cents of the planned entry, and MTG qualified if you were there to grab it. Exit was before lunch in NYC when MTG reversed back over the 8 period simple moving average.

MGIC Investment


TXU Corp (TXU), from the Extra Innings list for today, was a good play today from close of Wednesday (projected entry level) to low of Wednesday (projected initial profit target). TXU was all this and more today, opening below its central pivot, trading up to this price and triggering our entry 10 cents below yesterday’s close. After a fitful start, TXU dropped quickly, surpassing yesterday’s low and S1 before resting on S2. Exit was off of this level at the cross of the 8 or the 20 period simple moving average.

TXU Corp


Sempra Energy (SRE), from the Extra Innings list for today, had two entry opportunities, one over Wednesday’s close and another over Wednesday’s high. Exit was mid-afternoon when SRE crossed over the 8 and/or 20 period simple moving averages. Exit for the more aggressive entry could also have been just off the bounce back down from R1 at Wednesday’s high.

Sempra Energy


Allstate Corp (ALL) was a Switch Hitter short setup from Wednesday’s Around the Horn subscription service. ALL hit our entry price off the open and was a rocky ride all day, never hitting our stop loss, but never sinking further. This was a scratch at best and a small loss at worst, but disappointing in its performance either way.

Allstate Corp


Darden Restaurants (DRI) was a Fast Ball long setup from Wednesday’s Around the Horn subscription service. DRI hit our price early and never made it past the 50% to target at 41.86 at the central pivot level. Exit was end of day.

Darden Restaurants


Smaller profits or scratches to the upside were also to be had in DDR, DRE, KIM, & UDR

Honorable Mention: GGP

General Growth Properties (GGP) was a Fast Ball long setup from Tuesday night’s Stocks to Watch column that also had Sinker (reversal short) possibilities. Wednesday it hit its long follow-through, and today it hit its Sinker. GGP opened into Wednesday’s body on a candle stick daily chart and traded up to previous highs and the trigger for a Sinker entry. Entry was off a fall from this level and was good until end of day.

General Growth Properties


Extra Innings and Opportunities for Friday, February 9, 2007:

TXU may have some more ground to give and be drawn down below the close or low to the 50 day moving average at 55.11 and 20 day simple moving average at 54.79.

TXU


SIE has been trading in a narrow range since its Fast Ball move last week. We’ll be watching it again tomorrow.



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