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Around the Horn: Stocks to Watch for August 22
By Adrian Manz | Published  08/22/2006 | Stocks | Unrated
Around the Horn: Stocks to Watch for August 22

Mondayââ,¬â"¢s trading left a Line Drive setup in Barrick Gold (ABX). We will have the stock and the sector (XAU.X) on screen throughout the Tuesday session. The number to beat seems to be 33.03 or so, with significant resistance more than a point higher if the stock can break convincingly.

Freeport-Mcmoran Copper & Gold Inc (FCX) also left a Line Drive. This one is a lower level setup, but a break above 57.60 gives the stock room for more upside.

Barrick Gold Corp

Freeport-Mcmoran Copper & Gold Inc

Ashland Inc (ASH) had a Fast Ball move lower on Monday and looks ready for a retest of 61.95.   Failure to find support could send the stock to the 61.30 May/June support.

Ashland Inc

Becton Dickinson & Co (BDX) left an Infield Fly on Monday, leaving the medical instruments supplier poised for move lower on Tuesday. We will look for early weakness in the stock and the healthcare indices for a clue as to entry levels.

Becton Dickinson & Co

MGIC Investment Corp (MTG) looks to be rolling lower again. The stock had a Switch Hitter setup on Friday with minor follow through on Monday.   Additional downside to approximately the 57.60 area looks possible on this one in the next session.

MGIC Investment Corp

Finally, we will be watching Public Storage Inc (PSA) for a potential Fast Ball Reversal of New 52 Week Highs over the next several sessions.

Public Storage 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.