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New Plays
Long Plays
Short Plays
CVX None
NVDA  
SBUX  

New Long Plays

Chevron - CVX - close: 90.17 chg: +0.87 stop: 88.45

Company Description:
Chevron Corporation is one of the worlds leading integrated energy companies with subsidiaries that conduct business across the globe. (source: company press release or website)

Why We Like It:
It's not surprise. Oil stocks are showing strength as crude oil surges to new record highs. Shares of CVX are marching higher and the recent bounce from its rising 10-dma looks like a new entry point for bullish positions. We're suggesting positions now with CVX above $90.00. We'll try and limit our risk with a tight stop at $88.45. Our target is the $94.75-95.00 range. We do not want to hold over the May 2nd earnings report.

Picked on April 15 at $90.17
Change since picked: + 0.00
Earnings Date 05/02/08 (confirmed)
Average Daily Volume: 12.7 million

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NVIDIA - NVDA - close: 18.12 change: +0.21 stop: 17.59

Company Description:
NVIDIA is the world leader in visual computing technologies and the inventor of the GPU, a high-performance processor which generates breathtaking, interactive graphics on workstations, personal computers, game consoles, and mobile devices. (source: company press release or website)

Why We Like It:
Intel's earnings report that came out tonight could light a fire under the semiconductor stocks. NVDA was already bouncing from its intraday lows today. Shares of NVDA could be in the process of building a bullish double-bottom pattern. We're suggesting long positions now with a stop loss under Tuesday's low (17.59). Our short-term target is potential resistance in the $19.90-20.00 zone. We do not want to hold over the early May earnings report.

Picked on April 15 at $18.12
Change since picked: + 0.00
Earnings Date 05/08/08 (unconfirmed)
Average Daily Volume: 20.1 million

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Starbucks - SBUX - close: 17.32 chg: +0.35 stop: 16.84

Company Description:
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with nearly 16,000 stores and more than 170,000 partners (employees) in 44 countries, Starbucks is the premiere roaster and retailer of specialty coffee in the world. (source: company press release or website)

Why We Like It:
Fundamentally, we think SBUX is going to continue to have problems with the economy in a recession and consumers suffering with $3.00-$4.00 gas. However, that doesn't mean that we can't jump in for a quick trade now and then. SBUX has been consolidating sideways and just bounced from support. We're putting a stop loss under Monday's low. Our target is the $18.45-18.50 range. More aggressive traders may want to aim for $18.75-19.00. We do not want to hold over the late April earnings.

Picked on April 15 at $17.32
Change since picked: + 0.00
Earnings Date 04/30/08 (unconfirmed)
Average Daily Volume: 13.6 million
 

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