Monday we had six Stocks to Watch, one Extra Inning and three Around the Horn subscription service trades on our radar. Of these, two hit for profits and the rest were no-shows.

International Game Technology (IGT) was a Fastball short setup for Monday’s Around the Horn subscription service. IGT hit our entry shortly after the open and had a great run down, coming within 4 cents of our initial profit target. When a stock comes within 10 cents of our profit target and then moves away, we move a profit stop to the 50% to target level. That’s what happened with IGT today, and our exit was at the 50% to target

International Game Technology, 25-Tick Chart


OM Group Inc (OMG) was a Fastball short setup for Monday’s Stocks to Watch column. For those quick on the draw, the entry on OMG was off the open and was a satisfying ride down to lows, with an exit on the bounce back on the reversal of two closes and cross of the 8 period moving average.

OM Group Inc, 25-Tick Chart


Extra Innings and Opportunities for Tuesday, August 7, 2007:

The bounce back in today’s market didn’t leave any Extra Innings.

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