Shares of Anixter Intl Inc (AXE) were sharply higher on Tuesday, as stellar earnings led to a Fast Ball / Line Drive moonshot that has the stock at all-time highs on a strong and persistent intraday move. We will have the stock on screen throughout the session on Wednesday looking for potential follow-through. A sinker setup is also a possibility on market weakness.

Coach Inc (COH) made a Line Drive / Fast Ball move on extremely heavy volume after the company reported earnings that beat the street. We will watch Coach and the retail sector (RLX.X) on Wednesday for evidence of follow-through or a Sinker reversal opportunity.

Anixter Intl Inc

Coach Inc

If gold continues its rally, Freeport-Mcmoran Copper & Gold Inc (FCX) has the potential for a Fast Ball continuation on Wednesday. Julie and I will be looking for a pullback and retest of 59.38 for an entry opportunity.

Freeport-Mcmoran Copper & Gold Inc

A pullback to around 46.70 in Getty Images Inc (GYI) will have us looking for a short side opportunity with a tight stop just above 47.00   The stock left a Fast Ball bar to the downside on very heavy volume after a substantial earnings miss and looks to have less than a picture perfect day in store for Wednesday.

Getty Images Inc
 

Thermo Electron Corp (TMO) reports before the bell Wednesday, and is positioned for a Fast Ball channel breakout move if it manages a positive surprise. If the numbers are anything other than stellar, we will be looking to add this one to the list of possible Sinkers.

Thermo Electron Corp

Finally, Varian Medical Systems, Inc (VAR) will be on the radar for signs of a continuation move lower. The stock made a Fast Ball expansion of range and volume move, breaking recent support on Tuesday.

Varian Medical Systems, Inc

Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is co-founder of TraderInsight.com. Email him at adrian@traderinsight.com.