Thursday, we had four Stocks to Watch, three Around the Horn subscription trades and one Extra Inning on our radar. Of these, five hit for profits and three were no-shows.

Canadian Pacific Railway (CP) was a Fastball short from Wednesday night’s Around the Horn subscription service. CP gapped open lower but traded up through our entry price and entry was on the drop back through. CP came within 10 cents of our initial profit target and exit on this entry was at the cross back over the 50% to target level. Second entry was 20 minutes or so later on the break back down through the entry price. This time CP made it through the initial profit target and beyond. Exit was on a break back over this price, not taking any chances on a herky jerky market.

Canadian Pacific Railway


Genentech Inc (DNA) was a Switch Hitter short from Wednesday night’s Around the Horn subscription service. DNA hit our entry level in the early afternoon and then tested our patience for the next couple of hours. Late in the day it paid off and traded down to the initial profit target, with an exit as close to this level as possible.

Genentech Inc


Illinois Tool Works Inc (ITW) was a Fastball short from Wednesday night’s Around the Horn subscription service. ITW gapped open lower but traded up through our entry price and for this entry you had to be quick on the draw. An entry here took the trade below the initial profit target with an exit on the cross of the 8 period simple moving average on the move up from lows. ITW had a second entry opportunity later in the day. This time ITW made it to the initial profit target with an exit at this level.

Illinois Tool Works Inc


Affiliated Computer Services, Inc. (ACS) was a Switch Hitter short from Wednesday night’s Stocks to Watch column. ACS hit our entry price in the first hour of trading and consolidated at this level for the rest of the morning. After noon ACS began to break down and traded to a low of 48.70 before consolidating for the rest of the day. Exit was on the cross of the 8 period simple moving average on the move up from lows.

Affiliated Computer Services Inc


US Steel Group (X) was a Fastball short from Wednesday night’s Stocks to Watch column. GGP hit our entry price shortly after the open. There were several ways to make money on X today, one was an exit on the bounce up from lows on the cross of the 8 period simple moving average.

US Steel Group


Extra Innings and Opportunities for Friday, August 17, 2007:

No Extra Innings for Friday.

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