An NYSE Scalper's Tale - A Trader's Diary

Tuesday, February 21, 2006

On Tap for Wed Feb 22, 2006

Both Walmart (WMT) and Home Depot (HD) reported this morning, however both are still stuck in their respective ranges. Home Depot looks like it has difficulty with the $43 level and has not been able to close above this level since July.

I'll also keep an eye on Bell South (BLS) tomorrow. It's making new highs on increased volume and from the intraday chart it looks like it has some good intraday trends.

Lastly, I came across an article about H.J. Heinz (HNZ). Apparently another billionaire investor, Nelson Peltz, is rallying co-investors and may attempt an "Icahn"-like intervention at Heinz. This stock is normally goes unnoticed by me (low volume, small intraday range), but Heinz has been taking off and volume has been picking up the last two weeks. It's interesting to see that it is only now that so many stories have come up concerning this...we'll see if HNZ can continue it's upward momentum or if this is simply another case of the public being the last to know...


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