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Around the Horn: Stocks to Watch for April 9
By Adrian Manz | Published  04/9/2007 | Stocks | Unrated
Around the Horn: Stocks to Watch for April 9

On Monday, we will err on the side of caution and work under the assumption that volume and liquidity will be on the light side. As discussed in the weekend Market Outlook newsletter, we will be watching a few stocks throughout the session for follow-through on Thursday’s trading.

Arch Coal (ACI) was on Thursday’s Around the Horn Intraday Trading Plan subscription service for Friday, and paid off with a two-point Fast Ball expansion of range and volume move on the heels of an equal to-point move on Wednesday. We have taken healthy profits on ACI, but will keep it on the radar throughout the session on Monday for signs of a continuation above Thursday’s close and into the highs of the tail.

Arch Coal


Wyeth (WYE) had a week-long rally after Barron’s touted the stock on April 2 and Thursday’s high left the stock in an Infield Fly setup with potential for a retracement move on Monday. We will look to the broader market for an indication as to whether weakness in WYE will be short-lived or have follow-through into Wednesday’s expanded range.

Wyeth


Jarden Corp (JAH) will also be on the radar on Monday. The stock left a Line Drive gap and continue setup on Thursday and should provide some good price action during Monday’s trading.

Jarden Corp


We will keep shares of DaimlerChrysler AG (DCX) on screen for the next several sessions as buyout offers continue to develop. That stock should remain in play for the foreseeable future, particularly if offers move out of the bargain basement range and closer to the Daimler estimate of the unit’s worth -- $8 billion.

DaimlerChrysler AG


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.