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Around the Horn: Stocks to Watch for February 5
By Adrian Manz | Published  02/5/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for February 5

Constellation Energy Group Inc (CEG) consolidated Thursday’s Fast Ball move and left a Backdoor Slider on Friday. Julie and I will be watching the long and short side on the stock, as it’s close at new highs also leaves it vulnerable to profit-taking. A move abovethe high or below the low of the Friday session will have us looking to initiate a position.

Hovnanian Enterprises Inc (HOV) in the homebuilder group (HGX.X) made a Fast Ball move on the heels of Thursday’s Line Drive. We will be looking for follow-through above the Friday high or on a rise and pullback to around 36.90 that reverses and goes long.

Loews Corp (LTR) left a Douple Header reversal setup on Friday and will be on the short-side radar throughout the Monday session. I am looking for a move below 43.50 to signal weakness. Potential short entries will be supported by overhead supply on the NYSE OpenBook.

An Infield Fly in MetLife Inc (MET) will have us watching for a move below 63.07 to signal a potential short move into the lower into the Thursday mid day support area.

Whirlpool Corp (WHR) is also an Infield Fly and 92.20 will be the alert price at our desk for a potential move lower.

Finally, Wrigley Co (WWY) left a Backdoor Slider on Friday, and trade above 52.65 will have us looking for a long entry opportunity.

Constellation Energy Group Inc


Hovnanian Enterprises Inc


Loews Corp


MetLife Inc


Whirlpool Corp


Wrigley (William) Jr 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.