On Friday, May 4, 2007, we had threeStocks to Watch and oneAround the Horn subscription trade on our radar. Of these, two hit for profits, one was a scratch to the upside and one was a no-show.

Legg Mason Inc. (LM) was a Line Drive long setup from Thursday night’s Stocks to Watch column. LM gapped open above our entry level then faded back to Thursday’s closing level. LM hit the entry level on the way back up mid-morning, trading quickly up to the R1 pivot level. Exit was on the resistance and reversal at this level, on a fall below support on the one minute chart.

Legg Mason Inc, One Minute Chart


Prudential Financial (PRU) a Line Drive long setup from Thursday night’s Stocks to Watch column. PRU hit the entry level off the gap open, trading above R1 and consolidating for the rest of the morning. Exit was on the break down of the consolidation and cross of the 8-period moving average.

Prudential Financial


Extra Innings and Opportunities for Monday, May 7, 2007

Ann Taylor Stores (ANN) was a Fastball short for Friday’s Around the Horn subscription list. It scratched us out end of day, and we’ll be watching it again on Monday.

Ann Taylor Stores


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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at julie@traderinsight.com.