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Around the Horn: Stocks to Watch for August 2
By Adrian Manz | Published  08/2/2006 | Stocks | Unrated
Around the Horn: Stocks to Watch for August 2

On Wednesday, we will be watching for follow through in Anadarko Petroleum Corp (APC). The stock had a Fast Ball move on Tuesday bouncing off the 20-period simple moving average and through the 50 period simple moving average.

Duke Energy Corp (DUK) also made a Fast Ball move on Tuesday, moving significantly higher out of a loosely structured Switch Hitter pattern.   The stock will be on our radar throughout the session as well.

Anadarko Petroleum Corp

Duke Energy Corp

Eastman Kodak Co (EK) had a picture perfect Fast Ball breakdown on Tuesday as the company reported second quarter revenue of $3.36B vs. consensus est imates of $3.48B.

Eastman Kodak Co

Group 1 Automotive, Inc. (GPI) had all the self determination of a crash test dummy this morning as the company also missed earnings estimates, reporting second quarter revenue of $1.56B vs. consensus estimates of $1.637B. The company projects 2006 earnings per share of $3.40-$3.70 vs. consensus estimates of $3.79.   We will watch for pullback entry opportunities throughout the trading day on Wednesday.

Group 1 Automotive, Inc.

Iron Mountain Inc (IRM) left a Double Header on the Tuesday daily chart.   We will be watching for a move below the low of the reversal bar to signal an entry opportunity.

Iron Mountain Inc

A series of downgrades had Manpower Inc (MAN) weak throughout the Tuesday session, and looking like a follow-through candidate for Wednesdayââ,¬â"¢s trading.

Manpower Inc

Finally, Supervalu Inc (SVU) missed the earnings estimates on July 26, 2006, and has been in a freefall ever since.   The stock staged a minor pullback, but is setup in an extended Backdoor Slider for Wednesdayââ,¬â"¢s trading.

Supervalu 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.