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  IIG

New Long Plays

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New Short Plays

Helmerich Payne - HP - cls: 28.28 chg: +0.61 stop: 27.49

Company Description:
Helmerich & Payne, Inc. is a contract drilling company with a rig fleet that currently includes 132 U.S. land rigs, nine U.S. platform rigs located in the Gulf of Mexico and 27 international land rigs. In addition, the Company has customer commitments that will allow it to build and operate at least another 32 new H&P-designed FlexRigs, expanding its total number of FlexRigs to 125 and its total number of U.S. land rigs to 164. (source: company press release or website)

Why We Like It:
HP is an oil services stock that looks poised to breakout from its current short-term sideways consolidation pattern. Last week shares produced a big bullish engulfing candlestick pattern, which is typically seen as a bullish reversal. Volume on today's gain was above average and HP is on the verge of breaking out. We're suggesting a trigger to buy the stock at $28.76. The Point & Figure chart looks very bullish with a bounce from support and a forecasted target of $39. We are aiming for the $32.50 mark. We do expect some resistance near $30.00.

Picked on March xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/03/07 (unconfirmed)
Average Daily Volume: 1.4 million

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Imergenet Inc - IIG - cls: 19.58 chg: +0.58 stop: 18.95

Company Description:
iMergent provides eCommerce solutions to entrepreneurs and small businesses enabling them to market and sell their business products or ideas via the Internet. Headquartered in Orem, Utah, the company sells its proprietary StoresOnline software and training services, helping users build a successful Internet strategy to market products, accept online orders, analyze marketing performance, and manage pricing and customers. (source: company press release or website)

Why We Like It:
Shares of IIG peaked back in December 2006 and then proceeded to drop from the $30 region to an intraday low of $17.66 in early March. The selling began to run out of steam when shares hit the simple 200-dma. Now that the stock has spent a few weeks consolidating sideways it might be time for a rebound. IIG does have resistance in the $20.00-20.30 zone so we're suggesting a trigger to buy the stock at $20.35. Readers should be aware that IIG does have additional overhead resistance at its 50-dma and 100-dma near $21.65. However, we're aiming for the $23.25-23.50 range. The P&F chart for the stock looks pretty bullish with a $25.50 target.

Picked on March xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/08/07 (unconfirmed)
Average Daily Volume: 709 thousand
 

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