Wednesday, April 28, we had two Stocks to Watch and three Around the Horn subscription trades on our radar. Of these, two were profitable, one was a loss, one was a scratch and one was a no-show.

Anglogold Ashanti Ltd (AU) was a Fastball short for Wednesday’s Around the Horn subscription trade list. AU opened and after a brief consolidation traded down to the entry level and just below before pulling back and bouncing around the entry level for most of the day. Later in the afternoon, AU traded up and triggered the stop loss.

Anglogold Ashanti Ltd (AU), 5-Minute Chart


First American Corp (FAF) was a Fastball short for Wednesday’s Stocks to Watch trade list. FAF opened and hit our entry level early in the session. FAF then traded below the S1 pivot, the S2 pivot and beyond before bouncing off lows. Exit was on the bounce after such a long trip down on the reversal of two closes.

First American Corp, 5-Minute Chart


Sysco Corp (SYY) was a Backdoor Slider long for Wednesday’s Stocks to Watch trade list. SYY was essentially a pivot play, with modest profits from R1 to R2. Exit was on the fall back down from R2 after a consolidation and cross of 8 period simple moving average.

First American Corp, 5-Minute Chart


Extra Innings and Opportunities for Thursday, May 1, 2008:

Genentech Inc (DNA), 30-Minute Chart


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