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Around the Horn: Stocks to Watch for May 23
By Adrian Manz | Published  05/23/2006 | Stocks | Unrated
Around the Horn: Stocks to Watch for May 23

Monday was a pleasant day for those of us who came to the game prepared for some short selling, but the session did little to indicate that the market had found a bottom. The warning signs of further selling were apparent throughout the session. Most notably, analyst after analyst made his/her way onto the CNBC stage to espouse the virtues of buying here, since this is so obvious a bottom. I donâ,"t know about the rest of you, but speaking for myself, I will start buying heavily when those same analysts are back shouting â,"the sky is falling!â,

Monday was the test of a test of the 11,000 benchmark. I will form a directional bias after one more. Until then, I am quite content to take what the market gives me. As such, I will have Affiliated Computer Services (ACS) on the screens once again on Tuesday. The stock still looks weak, and should have little trouble moving lower if the market and technology have another rough day.

Affiliated Computer Services

Among the financials, we will watch Capital One Financial (COF) for a continuation of its Fast Ball move lower.  

Capital One Financial

On a day with lots of downside, Fast Ball moves lower were hardly the exception. Vimpel Communications (VIP), however, was definitely a standout in the crowd. We will watch for further downside on Tuesday.

Vimpel Communications

In Retail (RLX), Williams Sonoma Inc. (WSM) also appears to be ready for more downside. The stock left a long intraday Breaking Ball pattern on the intraday charts, and will be on the radar throughout the Tuesday session.

Williams Sonoma, Inc.

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.