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New Plays
Long Plays
Short Plays
None MNST
  PTEN
  VMED

Play Editor's Note: The trend for the major indices is bearish but the bounce may not be over yet. Thus our bias is bearish but we need to be patient with our entry points. A few stocks we are watching would be MTW and GYI, which look bullish and XRAY, which looks bearish.


New Long Plays

None today.
 

New Short Plays

Monster Worldwide - MNST - cls: 33.06 change: +0.42 stop: 35.05

Company Description:
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster, the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. (source: company press release or website)

Why We Like It:
MNST popped higher following its late October earnings report but the post-earnings rally failed near $40. Since then the stock's been falling steadily and is now testing significant support near $33.00-32.50. If the markets continue lower then we would expect MNST to breakdown under this support level. Our suggested trigger for shorts is $32.35. If triggered we will have two targets. Our first target is the $30.15-30.00 range. Our second target is the $28.50-27.50 zone. The bearish P&F chart points to a $26 target.

Picked on November xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/31/08 (unconfirmed)
Average Daily Volume: 2.3 million

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Patterson-UTI Energy - PTEN - cls: 19.36 chg: +0.38 stop: 20.05

Company Description:
Patterson-UTI Energy, Inc. provides onshore contract drilling services to exploration and production companies in North America. The Company has approximately 350 currently marketable land-based drilling rigs. (source: company press release or website)

Why We Like It:
We are normally bullish on oil and oil service stocks. Unfortunately there is nothing to be bullish about when looking at PTEN's chart. The stock broke down under significant resistance back in October. The oversold bounce in November failed near resistance (broken support). Now shares are hitting new relative lows. We are suggesting a trigger to start bearish positions at $18.95. If triggered our target is the $17.50-17.00 zone. The P&F chart points to a $12.00 target. FYI: The most recent data puts short interest at 10% of the stock's 152 million-share float. That is a relatively high amount of short interest and raises the risk of a short squeeze.

Picked on November xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/14/08 (unconfirmed)
Average Daily Volume: 3.8 million

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Virgin Media - VMED - cls: 18.57 change: -0.01 stop: 19.31

Company Description:
Virgin Media is the UK's leading entertainment and communications company. Thanks to Virgin Media, consumers can for the first time, get everything they need from one company - a 'quadplay' of digital TV, broadband, phone and mobile. Almost 10 million customers (5m cable, 4.5m mobile, 250,000 virgin.net) choose Virgin Media. (source: company press release or website)

Why We Like It:
VMED sold off sharply following its most recent earnings report. The oversold bounce is already beginning to roll over and we believe shares are poised to begin a new leg lower. Aggressive traders may want to open positions now or on a move under $18.25. We're suggesting a trigger to short VMED at $17.99. If triggered our target is the $15.25-15.00 range. The P&F chart is bearish and points to a $9.00 target.

Picked on November xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/07/07 (confirmed)
Average Daily Volume: 2.7 million
 

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