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New Plays
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New Plays
Long Plays
Short Plays
GGB DELL
TFX  

Play Editor's Note: We found a lot of bullish candidates today. A few more stocks we would watch for potential plays are: IMO, ATLS, GDX, FMX, LRCX, BTM, BW, CAL, SHO, AMR, TNH, and IRF. Some you'll want to look for a breakout others for a dip.


New Long Plays

Gerdau S.A. - GGB - close: 36.84 chg: +0.82 stop: 34.64

Company Description:
GGB is a Brazilian steel company.

Why We Like It:
Iron and steel stocks have been huge pockets of strength in this market. Traders just bought the dip in GGB near broken resistance and what should be support around $35.00. We're suggesting readers buy the bounce and we'll stick the stop loss under today's low. Our first target is the $39.75-40.00 range. We'll place a secondary, higher-risk target at $42.00. The P&F chart is bullish with a $57 target. We do not want to hold over the early May earnings report (unconfirmed).

Picked on April 10 at $36.84
Change since picked: + 0.00
Earnings Date 05/03/08 (unconfirmed)
Average Daily Volume: 3.1 million

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Teleflex Inc. - TFX - close: 50.54 chg: +0.74 stop: 49.49

Company Description:
Teleflex is a diversified company that designs, manufactures and distributes quality engineered products and services for the medical, aerospace and commercial markets worldwide. (source: company press release or website)

Why We Like It:
It looks like shares of TFX have built a bottom over the last four weeks. Shares have a new short-term trend of higher lows and look poised to breakout over resistance in the $50.80-51.00 zone. We are suggesting a trigger to go long at $51.05. Our short-term target is the $54.75-55.00 range, which should intersect with the stock's longer-term trendline of lower highs. The long-term trend is still bearish. We're just trying to play the oversold bounce.

Picked on April xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 04/30/08 (unconfirmed)
Average Daily Volume: 319 thousand
 

New Short Plays

Dell Inc. - DELL - close: 18.77 chg: +0.08 stop: 19.55

Company Description:
Dell Inc. listens to customers and delivers innovative technology and services they trust and value. Uniquely enabled by its direct business model, Dell is a leading global systems and services company and No. 34 on the Fortune 500. (source: company press release or website)

Why We Like It:
Dude, you're getting a new multi-year low! We've been highlighting DELL in my Play Editor's Note the last couple of days. The breakdown under $18.80 was an entry point for shorts and a very bearish breakdown. Today's oversold bounce and failed rally at $19.00 was just a gift of an entry point for bearish positions. We're suggesting a stop loss at $19.55 but you could try a stop closer to $19.25 or $19.05. DELL's breakdown from this multi-week trading range has dire implications. The P&F chart already points to a $7.00 target and a move under $18.50 would be a new triple-bottom breakdown sell signal on the P&F chart. We're going to be aggressive and list two targets. Our first target is the $16.00 mark. Our second target is the $13.50 mark. We do not want to hold over the late May earnings report.

Picked on April 10 at $18.77
Change since picked: + 0.00
Earnings Date 05/29/08 (unconfirmed)
Average Daily Volume: 29.3 million
 

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