Wednesday was an intraday reversal session for most of the stocks on my scan list.   Autozone (AZO) never provided the opening short opportunity, but the rest of the Around the Horn: Stocks to Watch list was full of opportunity as Burlington (BNI), Fortune (FO) and L-3 (LLL) provided plenty of short side setups throughout the day.

On Thursday, we will be watching for a Fast Ball continuation short in Grainger (GWW). The stock made a solid expansion of range and volume move lower on Tuesday, and has the potential to break through relatively weak early April support.

Grainger Inc.

Carmax Inc. (KMX) also had a Fast Ball move lower on Wednesday. The stock was in a multi-session daily Breaking Ball, and appears to be headed lower.

Carmax Inc.

On the long side, Lexmark (LXK) made a Fast Ball move higher on Wednesday, and will be on our watch list throughout the Thursday session.  I will be looking for buying opportunities on the pullbacks and any break above the Wednesday high.

Lexmark International

Omnicom (OMC) is also an interesting long side candidate.

Omnicom Group, 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.