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CLE None
NOVL  

New Long Plays

Claires Store - CLE - close: 32.00 change: +0.60 stop: 29.99

Company Description:
Claire's Stores, Inc., is a leading international specialty retailer offering value-priced costume jewelry and accessories to fashion-aware tweens, teens and young adults through its two store concepts: Claire's and Icing by Claire's. In total, more than 3,000 Claire's and Icing by Claire's stores can be found throughout the world. (source: company press release or website)

Why We Like It:
Positive economic news over retail sales today helped propel the retail sector. Shares of CLE added 1.9% and closed at new highs. The stock appears to be in a relatively steady up trend. Traders can choose to open new bullish positions anywhere above the $31.00 level. Odds of a dip back to the $31.50 region look good and readers can use it as an entry point if you don't want to chase it here. Our target is the $33.90-34.00 range. The Point & Figure chart is more bullish with a $42.50 target.

Picked on February 14 at $32.00
Change since picked: + 0.00
Earnings Date 03/09/06 (unconfirmed)
Average Daily Volume: 697 thousand

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Novell Inc. - NOVL - close: 9.30 change: +0.23 stop: 8.99

Company Description:
Novell, Inc. delivers Software for the Open Enterprise(TM). With more than 50,000 customers in 43 countries, Novell helps customers manage, simplify, secure and integrate their technology environments by leveraging best-of- breed, open standards-based software. With over 20 years of experience, more than 5,000 employees, 5,000 partners and support centers around the world, Novell helps customers gain control over their IT operating environment while reducing cost. (source: company press release or website)

Why We Like It:
We have had our eye on NOVL for days now. We regretted not going long on its last breakout over the $9.00 level. Now the pull back toward support near $9.00 and its rising 50-dma looks like a new bullish entry point. More specifically today's bounce on above average volume looks like our entry point to go long. More conservative traders might want to wait for a move over $9.40 before initiating positions. There is probably resistance at $9.80 and again at $10.00 but the top of its rising channel is in the $10.50 region. We're going to hold NOVL right up to its earnings report around the 2nd of March but we'll set a preliminary exit target at $10.25.

Picked on February 14 at $ 9.30
Change since picked: + 0.00
Earnings Date 03/02/06 (unconfirmed)
Average Daily Volume: 5.6 million
 

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