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Around the Horn: Stocks to Watch for February 22
By Adrian Manz | Published  02/22/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for February 22

The New York Trader’s Expo is over, and I would like to start tonight’s column by thanking everyone in attendance for visiting Art Collins, Tom Incorvia and my own presentations. The caliber of trader present this year, as demonstrated by the interest and questions asked, was truly outstanding. It was wonderful meeting War Room and TraderInsight users. I look forward to being able to put some faces with the names.

Our first day back will be Thursday and we will be watching Bj's Wholesale Club, Inc. for a Sinker retracement move of Wednesday’s Fast Ball move. Julie and I will use a test of approximately $0.10 - $0.15 above the Wednesday high followed by a reversal as a potential entry level. The initial target on the trade will be a 50% retracement of the Fast Ball bar. We will not be interested in this one as a Fast Ball continuation candidate.

Bj's Wholesale Club, Inc.


We will also be watching shares of Eastman Chemical Co. The stock made a solid-volume Fast Ball move higher out of a consolidation pattern on the daily chart and managed a close above the 20- and 50-period simple moving averages.

Eastman Chemical Co.


Eaton Corp is a potential Sinker candidate, although the short consolidation between Thursday and Tuesday may negate the setup. We will be looking for approximately a $0.15 - $0.20 move above the high that reverses and trades lower for a short sale entry. We will maintain an initial stop just above the Wednesday high.

Eaton Corp


Getty Images Inc (GYI) made a Line Drive move out of a two-week consolidation on Wednesday and will be on the radar for a move higher on Thursday. We will be interested in a move that starts $0.10 - $0.15 above the Wednesday high.

Getty Images 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.