On Tuesday, we had two Stocks to Watch, three Extra Innings and two Around the Horn subscription trades on our radar. Of these, Three hit for profits, one hit for a scratch to the downside, and three were no-shows.

Public Storage (PSA) was a Switch Hitter short setup from Monday night’s Stocks to Watch column. PSA was gapped down this morning well below our entry level so we watched and waited with this one. Intraday entry opportunities presented at either the cross of the 8- over the 20-period moving average or below S2. Either entry had a fairly tight stop with profit taking opportunities at the dips. The ultimate exit was end of day.

Public Storage


Lennar (LEN) was a Fast Ball short setup for Tuesday’s Around the Horn subscription service. LEN hit off the open and hung around this level until it traded down to the initial profit target. Here there was opportunity to take profits, all or partial. If all profits were taken, there was a second opportunity to enter on the breakdown of a consolidation Breaking Ball pattern. Exit here was off the lows of the day as it broke recent support and crossed the 8-, or 8- & 20-period moving averages.

Lennar


Alliance Data Systems (ADS) was an Extra Inning from Monday night’s Nightly Wrap column. Entry was after the break from support at S1. Exit was either at S2 level as it bounced around this area for much of the afternoon, or end of day.

Alliance Data Systems


Extra Innings and Opportunities for Wednesday, March 14, 2007:

We have a couple of stocks from last night’s Nightly Wrap on again tonight (JCP & BBY) and one each from the Stocks to Watch column and Around the Horn subscription service to watch tomorrow.

JCP


LNT


BBY


TRW


P.S. Join me and a dozen professional traders in the TraderInsight.com War Room. Click here for your free membership.

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