Mondayââ,¬â"¢s Line Drive open in Frontier Oil (FTO) and Cooper Cameron (CAM) provided plenty of opportunity for the gap-and-go readers of this column.   Meanwhile, Centex (CTX) and Hovnanian (HOV) triggered in textbook Around the Horn style and proceeded to book solid profits on the day as well.

On Tuesday, I will be watching Black and Decker Corp (BDK) for continuation of its own Line Drive day.

Black and Decker Corp.

Starwood Hotels (HOT) is in the fourth day of a Backdoor Slider setup, and looks about ready to check out.   We will have HOT on our radar on Tuesday as well.

Starwood Hotels and Resorts

The key to trading the home builders is usually in carefully monitoring the index (HGX.X).   No one is worse at keeping a secret, and on Tuesday, we will watch for any sign that weakness is returning to CTX and HOV. I will also watch for Lennar Corp (LEN) to continue the move it started on Monday. The stock broke through the 50 period simple moving average, and appears to have room for significant intraday profits in the next session.

Lennar Corp.

If they are buying the oils again on Tuesday, I will look for opportunities in Marathon Oil Corp (MRO). The stock left a Line Drive on Mondayââ,¬â"¢s chart and closed very well on the day.   My preferred entry would be on a pullback and reversal around $82.00 per share, but we will watch carefully for any indication of strength.

Marathon Oil Corp.

Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is cofounder of TraderInsight.com. Email him at adrian@traderinsight.com.