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Around the Horn: Stocks to Watch for March 1
By Adrian Manz | Published  03/1/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for March 1

Wednesday’s price action has many of us wondering what is next. My personal opinion is that the selling probably isn’t done, but opinions in this business are far more common than correct opinions so I’ll be content to let the market tell me what to do next. In the interim, the short side is still where the bulk of the setups are, and that is what we will be focused on for Thursday.

Barrick Gold Corporation (ABX) left a Backdoor Slider on Wednesday, and will be on our radar for a continuation move lower with an entry trigger .10 below the Tuesday low.

Barrick Gold Corporation


American Electric Power Co Inc (AEP) also left a Backdoor Slider, and a move below 44.60 will signal a short sale opportunity on broader market weakness.

American Electric Power Co Inc


Borg Warner Automotive (BWA) had a Backdoor Slider consolidation on the session and replaces Lear (LEA) on my watch list as an auto parts/oem short side candidate.

Borg Warner Automotive


On the long side, Cabot Oil & Gas Corp (COG) left a low level Switch Hitter at the daily 20-period simple moving average. We will look for a move above 68.66 and strength in the oils to indicate a potential entry.

Cabot Oil & Gas Corp


Finally, we will be watching a Backdoor Slider in Tidewater Inc (TDW) for additional downside to August 2006 support.

Tidewater Inc


P.S. Join me and a dozen professional traders in the TraderInsight.com War Room. Click here for your free 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.