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Around the Horn: Stocks to Watch for December 5
By Adrian Manz | Published  12/5/2006 | Stocks | Unrated
Around the Horn: Stocks to Watch for December 5

On Monday, the markets rallied and left my stocks to watch in a state of suspended animation.  The big move did leave us with some interesting looking setups going into Tuesday.  Most of these will rely on continued strength.

Applied Biosystems Group (ABI) had a Fast Ball expansion of range during the Monday session, leaving the scientific and technical instruments manufacturer above the 20-period Simple Moving Average for the first time in two weeks, and in continuation territory.  We will watch the technology sector for clues as to the start and strength of a potential move.
 


Applera Corp-Applied Biosystems Group

The transports were among the beneficiaries of Mondayââ,¬â"¢s move and Burlington Northern Santa Fe Corp (BNI) will be on our watch list Tuesday. The stock also had a Fast Ball expansion day, and closed above the major Simple Moving Averageââ,¬â"¢s and above the support/resistance area established between late September and mid November.

Burlington Northern Santa Fe Corp

In consumer goods, Campbell Soup Co (CPB) will be on the list of potential continuation or Sinker candidates.  The stock had a Fast Ball move to new highs on Monday following a Backdoor Slider setup Friday.

Campbell Soup Co

In the home builders, we will watch Hovnanian (HOV) and Pulte Corp (PHM) for a move lower from the extended Infield Fly setups left over the past two sessions.

Hovnaian Enterprises

Pulte Corp

Las Vegas Sands Corp (LVS) made a Type II Fast Ball move higher on expanded range and volume over a narrow consolidation.  We will look for continuation potential on Tuesday as well.

Las Vegas Sands Corp

Safeway Inc (SWY) left a Fast Ball at new highs and significant resistance.  We will watch the stock for a Sinker reversal throughout Tuesdayââ,¬â"¢s trading.

Safeway Inc

P.S. Join me and another dozen professional traders in the TraderInsight.com War Room.  Click here for your free two-week membership.

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.