Tuesday we had two Stocks to Watch, one Extra Innings and three Around the Horn subscription trades on our radar. Of these, three hit for profits and the three were no-shows. Special Note: I am changing charting software to Worden Blocks so please bear with me as I adjust the chart-drawing for this article over the next week or two.

Estee Lauder Co (EL) was a Switch Hitter short for Tuesday’s Around the Horn subscription trade list. Entry was in the morning and it was a smooth ride down to the 50% to target level. EL consolidated at this level for much of the day, but at this level we bring our stop loss down to the entry level. EL then traded lower, within 10 cents of the profit target, the level at which we move our stop to a profit stop at the 50% to target level. This trailing stop came close but was never triggered, and late in the day we hit our initial profit target. Both of these stop adjustments were posted live on our blog at www.TradingBullpen.com earlier today. Exit was just beyond the initial profit target at close of day.

Estee Lauder Co


Vulcan Materials Co (VMC) was a short for Tuesday’s Stocks to Watch list. VMC hit the entry level in the morning and after a brief hesitation began a steady decent. Exit was mid-day, after VMC began to trend slightly higher with higher lows and crossed the 8 period simple moving average.

Vulcan Materials Co


Honorable Mention:

Overseas Shipholding Group (OSG) was a Switch Hitter short for Tuesday’s Around the Horn subscription trade list. OSG opened this morning with a 30 cent spread. If you caught this one, you were faster than we were, but speed that really paid off. OSG almost immediately dove to and beyond our initial profit target. By using this level as a profit stop, this trade was alive until end of day.

Overseas Shipholding Group


Extra Innings and Opportunities for Wednesday, August 29, 2007:

Mcdermott International Inc (MDR) couldn’t make it above highs today and we’ll be watching for weakness again tomorrow.

Mcdermott International Inc


P.S. If you enjoy my column and would like to join our Intraday Trading Plan, it's only $1 for a 30-day trial.  Click here to start receiving our best trading setups for every trading day.

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