Tuesday we had six Stocks to Watch, three Extra Innings and three Around the Horn subscription service trades on our radar, with five Baltimore Chop gaps signaling off the open. Of these, six hit for profits, five were scratch trades and six were no-shows.

We had one additional trade trigger for profits from Tom Incorvia’s stocks of interest in Sunday’s Weekly Market Outlook newsletter, and two with continued profits from this same list.

Anglogold (AU) was an Infield Fly short setup from Monday night’s Stocks to
Watch column. AU hit our entry price and traded quickly down through the S1 and S2 pivot levels, consolidating under the latter. Exit was either at this level, or with some shares peeled off at this level and the remaining trailing out at end of day.

Anglogold


Eaton Corp (ETN) was an Infield Fly short setup from Monday night’s Stocks to Watch column. ETN was gapped down to our entry price and traded quickly down through the S1 and consolidating under this level. Exit was on a break up from this consolidation or at the break back over S1.

Eaton Corp


Merrill Lynch (MER) was a Line Drive long setup from Monday night’s Stocks to Watch column. MER hit its entry level mid morning after opening and pulling back to yesterday’s closing levels, and it was off to the races. MER traded solidly up through R1 and hit resistance at R2. Exit was on the break down from this level on the cross of the 8 period moving average.

Merrill Lynch


Amro Holdings (ABN) was an Extra Inning long from this column last night. ABN hit our entry at the R1 pivot and traded higher. I show the 25 tick chart below because this is how we entered and exited this trade (as posted live in the War Room), using this time frame and the parabolic support and resistance (PSAR) indicator to trail the profit stop. The exit was on the cross of the PSAR.

Amro Holdings, 25 Tick Chart


Black & Decker Corp (BDK) was a Baltimore Chop this morning that put some quick cash in our pocket. It may not look like much on the chart due to scaling, but Ã,¾ a point works for us!

Black & Decker Corp, One Minute Chart


Stanley Works (SWK) was another Baltimore Chop that triggered this morning. Exit was on a violation of the downtrend. If some shares were left open with a breakeven stop and an eye to the resistance at R2, then exit for these shares was end of day.

Stanley Works


Swing Trading with Tom Incorvia:

Two of the Tom Incorvia stocks of interest for this week from Sunday’s Weekly Market Outlook newsletter reported in this column yesterday were still on fire today, including International Business Machines Corp (IBM) and Intel Corp (INTC), as well as Magellan Midstream Partners (MMP). Another from his list hit today, Caterpillar Inc (CAT). Email Tom@Traderinsight.com or join us in the War Room to see how he sees these trades being handled tomorrow.

If you did not receive a copy of the newsletter and would like one, email support@TraderInsight.com with the subject: Newsletter for April 16th or register for future Weekly Market Outlook newsletters, delivered Sundays.

Caterpillar Inc


International Business Machines Corp


Intel Corp


Magellan Midstream Partners


Extra Innings and Opportunities for Wednesday, April 18, 2007:

Wednesday we will be watching the following:

Anixter International (AXE) was a Sinker (reversal) pattern for Monday’s Around the Horn subscription trade list. AXE hasn’t triggered yet, so we’ll be watching for weakness again tomorrow.

Anixter International


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