Around the Horn: Extra Innings for July 17 |
By Julie Peterson-Manz |
Published
07/17/2007
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Stocks
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Unrated
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Around the Horn: Extra Innings for July 17
Monday we had four Stocks to Watch, three extra innings and three Around the Horn subscription service trades on our radar. Of these, three hit for profits, five we no-shows and two were gapped.
Boyd Gaming (BYD) was a Fastball long setup for Monday’s Around the Horn subscription service. BYD opened just below yesterday’s close and made up for lost time, slowly at first with a parabolic move up through the profit target, gaining a point beyond. Exit was on the fall from these highs, as momentum slowed and BYD crossed over the 8 period simple moving average.
Boyd Gaming
Cameron International Corp (CAM) was a Sinker short setup for Monday’s Around the Horn subscription service. CAM did not test yesterday’s highs and subsequently trigger our entry until midday. After a brief hesitation, CAM sank like a rock, with a small rest at the central pivot before continuing down to S1. Here CAM bounced and exit was on this bounce, with the reversal of two closes and cross of the 8 period moving average.
Cameron International Corp
McDermott International (MDR) was a Sinker short setup for Monday’s Stocks to Watch column. Entry was late in the day, and there were several interesting intraday plays that could have been made earlier, including a short from today’s highs to Friday’s close. Friday’s close was our entry level for the Sinker setup and offered over a point in profits from this entry to an exit off of resistance on the cross of the 8 period simple moving average.
McDermott International
Extra Innings and Opportunities for Tuesday, July 17, 2007:
Bunge Ltd
American Standard Companies
Finally, I am keeping an eye on International Game Technology (IGT), maybe not for tomorrow but will see how it develops this week.
International Game Technology
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Julie Peterson-Manz is cofounder of TraderInsight.com. Email her at julie@traderinsight.com.
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