Around the Horn: Nightly Review |
By Julie Peterson-Manz |
Published
04/7/2007
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Stocks
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Unrated
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Around the Horn: Nightly Review
Thursday, we had four Stocks to Watch, two discrete Extra Innings and four Around the Horn subscription trades on our radar. Of these, four hit for profits, one took us to our stop loss and five were no-shows.
Arch Coal (ACI) was a Fastball long setup for Thursday’s Around the Horn subscription service. ACI hit our entry in the morning and didn’t look back until midday. This was a home run, with exit on a breakdown from the midday consolidation on the cross of the 8 and 20 minute simple moving average.
Arch Coal
Computer Sciences (CSC) was a Backdoor Slider long setup for Thursday’s Around the Horn subscription service. CSC traded under our target price for most of the morning, tagging our entry midday before taking us slowly to the stop loss end of day. If you blinked, you missed this one (and the resulting loss) but I am faithfully recording all hits and misses . . .
Computer Sciences
Millipore Corp (MIL) was a Fastball Long setup for Thursday’s Around the Horn subscription service. MIL consolidated around our entry level for most of the morning, with plenty of opportunity to be in when it took off like a rocket, straight to the profit target (thank you very much) before sinking back to the entry level and then back to the open.
Millipore Corp
Sunoco Inc. (SUN) was a Fastball Long setup from Wednesday night’s Stocks to Watch column. SUN hit the entry level just off the open and traded lethargically most of the day, with earlier resistance becoming midday support before taking a shot at the R1 pivot level. Exit was either at the breakdown of this level or on the second breakdown end of day.
Sunoco Inc.
Biovail Corp (BVF) was an Extra Inning long from this column for Thursday’s trading. Quick cash could be had with an entry at or above the R1 pivot level and exit after stalling out from a rapid climb, crossing the 8 then 20 period simple moving averages.
Biovail Corp
Extra Innings for Monday, April 9, 2007:
We will be watching the following:
VF Corp (VFC) was a Sinker short potential for Thursday’s Around the Horn service that didn’t trigger. The current setup has it in a Backdoor Slider pattern and we will be watching for a move to either side of Thursday’s consolidation.
VF Corp
Same story with Zimmer Holdings (ZMH)- this was a Stocks to Watch column Sinker setup that we’ll be watching Monday.
Zimmer Holdings
Still watching for weakness in Robert Half (RHI) as the Fastball Short from Thursday’s Stocks to Watch didn’t trigger Thursday.
Robert Half Intl (RHI)
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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at Julie@peterson-manz-trading.net.
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