On Tuesday, Advance Auto Parts (AAP) made a Fast Ball move off recent lows and into the gap left on June 28 when the company lowered its second quarter EPS guidance to 57 cents ââ,¬â€œ 59 cents from 65 cents - 68 cents, and comparable same store sales guidance to up 1%-2% from up 3%-5%. We will be watching for a continuation move on Wednesday.

We will also continue to watch Diamond Offshore Drilling Inc (DO) for a resumption of its recent downward trend. The stock left a Switch Hitter pullback on Tuesday just above the 38% retracement level.

Advance Auto Parts

Diamond Offshore Drilling Inc.

Medtronic Inc (MDT) made a Fast Ball move higher off recent lows and through 200 period simple moving average overhead resistance on Tuesday. We will watch the stock for further intraday trading opportunities throughout the Wednesday session.

Medtronic Inc

MGIC Investment Corp (MTG) remains on the radar as a Backdoor Slider. We will be watching for a move below the Friday low to signal a potential continuation.

MGIC Investment Corp

Precision Castparts Corp (PCP) left a Fast Ball expansion of range on double volume on Tuesday. We will be interested in establishing a long position if the stock can break 62.60 on Wednesday.

Precision Castparts Corp

Finally, Thomas & Betts Corp (TNB) reported second quarter earnings per share of 66 cents vs consensus estimates of 66 cents on Monday and was rewarded with a five point Fast Ball breakdown on Tuesday, with the potential for carryover into Wednesdayââ,¬â"¢s trading.

Thomas & Betts 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.