On Thursday, May 10, 2007, we had threeStocks to Watch and two Around the Horn subscription trade on our radar. Of these, three hit for profits and two were no-shows.
Banco Itau Holding Financial (ITU) was a Sinker short setup for Thursday’s Around the Horn subscription service. ITU opened gapped down. ITU faded shortly then began a morning long climb up to our trigger level at yesterday’s high. ITU traded down through the initial profit target and then another point before looking back. Exit was here at the reversal of two closes and crossing of the 8-period moving average.
Banco Itau
Deere & Co. (DE) was Sinker short setup from Wednesday night’s Stocks to Watch column. DE opened and traded lower before climbing to and above our trigger level. The entry triggered late morning, touching the central pivot before pulling back to a .382 level. DE did trade back down and through this level, and exit was anytime at or below the central pivot.
Deere & Co.
Texas Instruments (TXN) was also a Sinker short setup from Wednesday night’s Stocks to Watch column and followed a similar course as DE. Exit was at the cross back over the central pivot.
Texas Instruments
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