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Around the Horn: Stocks to Watch for January 3
By Adrian Manz | Published  01/3/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for January 3

Wednesday will, of course, be our first day back to the War Room after an unusually protracted holiday weekend.  Setups derived from Fridayââ,¬â"¢s price action will, no doubt, be less promising than those we will find as January develops.  There was very low volume on Friday, and the weekend news did little to wet the appetite of traders.  Of the stocks that did leave Around the Horn setups going into Wednesday a few look promising enough to be on the watch list.

Commerce Bancorp Inc. (CBH) had a Fast Ball expansion of range on Friday.  The stock broke through the daily 20-period simple moving average and seems ready to try a move below the 50.  CBH is not a giant range stock and has early December support, so potential will probably be limited to .30 - .60 cents.

Commerce Bancorp Inc

Mobile Telesystems ADR (MBT) is in an Extra Innings Infield Fly setup right at all-time highs.  We will be watching for any sign of weakness to short the stock.

Mobile Telesystems ADR

Millipore Corp left a Backdoor Slider on Friday and merits watching along with the technology sector on Wednesday.

Millipore Corp

Weingarten Realty Investors Inc had a Switch Hitter pullback to the 50-period simple moving average on Friday and could start a test of recent lows during Wednesdayââ,¬â"¢s trading.

Weingarten Realty Investors Inc

P.S. Join me and a 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.