Wednesday we had four Stocks to Watch, one Extra Innings and two Around the Horn subscription trades on our radar. Of these, one hit for profits and one for losses, with five no-shows.

CNA Financial Corp (CNA) was a Fastball short for Wednesday’s Around the Horn subscription trade list. Entry was in the morning and it was a smooth ride down to profit target and beyond. Exit was on the bounce up from a low of 41.47on the reversal of two closes and the cross of the 8 period moving average. CNA had a second entry opportunity, trading 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 at 42.13. Exit was at this level.

CNA Financial Corp


Estee Lauder Co (EL) was a Fastball short for Wednesday’s Around the Horn subscription trade list. Entry was mid-morning and put in a lack-luster performance to the downside, coming to within 5 cents of the 50% to target level before heading back to the entry, then zooming to the stop loss end of day on the heels of potential good news from Bernanke. Our rules maintain that we hit our stop loss and that’s how I am reporting this trade. However, with the release of this type of news and the fervor that followed, a nimble trader may have decided to cut the trade early, as it was end of day, had come close to the 50% to target level (where we move our stop to breakeven), and the recent choppy market conditions.

Estee Lauder Co


Extra Innings and Opportunities for Thursday, August 30, 2007:

The late news sent stocks climbing and blew out our patterns; I will watch again for additional opportunities tomorrow.

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