Monday we had four Stocks to Watch and one Around the Horn subscription service trade on our radar. Of these, one was a winner with the rest scratch trades, one of which had profit potential on an aggressive entry.

First American Corp (FAF) was a Sinker short setup for Monday’s Around the Horn subscription trades. FAF triggered our Sinker short by testing yesterday’s high off the open and failing to break out. Shortly thereafter, FAF hit our entry price and traded in a consolidation for the rest of the morning. Mid-day there was a blast to the downside, tagging our initial profit target level. Exit was on the snap back from this level

First American Corp


Special Mention:

Gold Trust (GLD) was a Line Drive long for Sunday night’s Stocks to Watch column. Entry at the usual 10 cents over yesterday’s high resulted essentially in a scratch, but there was an aggressive entry early in the day that was profitable. GLD opened and traded lower, down to the Central Pivot level, only to bounce off of this pivot. An entry at the cross of the 8 period simple moving average (with a stop just at or below the central pivot) put a few coins in the pocket. Exit level was on the failure to stay above the R1 pivot and cross back over the 8 period simple moving average (and break of a good old-fashioned head and shoulders).

Gold Trust


Extra Innings and Opportunities for Tuesday, June 16, 2007:

Tuesday we will be watching the following:

General Cable


Circuit City Stores


Meridian Gold


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