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Around the Horn: Stocks to Watch for January 24
By Adrian Manz | Published  01/24/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for January 24

Agco Corp (AG) made a Fast Ball move to retest all-time highs on Tuesday. We will watch for Sinker resistance to form at the breakout of the high of the Fast Ball bar.

We will watch shares of Fluor Corp (FLR) for a move to the 50-period simple moving average. The stock left a Fast Ball expansion of range and volume on Tuesday after consolidation recent gains.

General Dynamics Corp (GD) is a potential Sinker setup going into Wednesday. We will watch for signs of weakness on any attempted breakout.
We will also have shares of Newmont Mining (NEM) onscreen throughout the session Wednesday for signs of a continuation of Tuesday’s Line Drive move. The stock is trading above the 20-period simple moving average for the first time since late December.

Raytheon Co. (RTN) is a Fast Ball long side candidate for Wednesday. Julie and I are looking for a move above the expansion day high or a pullback to around 53.00 to signal a potential long side entry.

The homebuilders (HGX.X) trailed off into the close on Tuesday, and Ryland Group left an Infield Fly setup that has us interested in the stock for Wednesday’s trading.

Sherwin Williams Co. (SHW) is another Sinker candidate. We will look for signs that the overall market is weakening and then focus on failed breakout attempts by the stock to signal a potential short sale.

AGCO Corp


Fluor Corp


General Dynamics


Newmont Mining Corp


Raytheon Co.


Ryland Group


Sherwin Williams Co.


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.