On Tuesday, we had two Stocks to Watch, five Extra Innings and three Around the Horn subscription trades on our radar. Obviously, this was an unusual day, with the morning futures down 100 points pre-open and the day turning into the worst sell-off since the market reopened on Sept 17th, 2001. That said, four hit for profits and six were no-shows.

Chevron Corporation (CVX) was a Switch Hitter short setup from Sunday night’s Stocks to Watch column. CVX opened lower then traded up to our entry level, bouncing down from this level at S1 and continuing it’s earlier consolidation until the big sell-off mid-afternoon. Exit was in the last hour of the day, either on the sharp bounce off the bottom or at end of day.

Chevron Corp


XTO Energy (XTO) was an Extra Inning short from Monday night’s Nightly Wrap column. XTO was gapped down like many stocks in the morning, but traded back up to our usual entry level at 52.57 and beyond. An aggressive entry at this level required wide stops or an exit and second entry. A more conservative entry presented later on the drop from a consolidation above S1. Exit was end of day, either on the sharp bounce off the bottom or at end of day.

XTO Energy


Frontier Oil Corporation (FTO) was an Extra Inning short from Monday night’s Nightly Wrap column. Much like XTO above, FTO was gapped down in the morning and traded back up to our usual entry level just below S1 and beyond. An aggressive entry at this level required wide stops or an exit and second entry. A more conservative entry presented later on the drop from a consolidation above S2. Exit was end of day, either on the sharp bounce off the bottom or at end of day.

Frontier Oil Corporation


Baker Hughes Inc (BHI) was a Switch Hitter short on Tuesday’s Around the Horn subscriber setups. BHI tagged our entry twice today before fading back to a consolidation between S1 and S2. BHI made its move to the initial profit target later in the day and exceeded that target as the market continued to slide. Exit was off lows of the session.

Baker Hughes Inc


Extra Innings and Opportunities for Wednesday, February 28, 2007:

We’ll see if tomorrow brings a more stable environment, but for tonight I am not watching for a reliable movement in any of the previous day’s setups that got blown-out today.

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