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New Plays
Long Plays
Short Plays
BKE None
LAMR  

Play Editor's Note: Just a couple of more stocks to check out. ONNN might be a buy. We'd watch for a dip near $6.70 or a breakout over $7.00 as a potential entry point. Use a tight stop loss! Plus, EBAY looks like a potential short on a breakdown under $30.00.


New Long Plays

Buckle - BKE - close: 48.80 chg: +1.37 stop: 46.75

Company Description:
Offering a unique mix of high-quality, on-trend apparel, accessories, and footwear, Buckle caters to fashion-conscious young men and women. (source: company press release or website)

Why We Like It:
Honestly, I'm shocked that an apparel retailer like BKE is doing so well given all the concerns about the consumer and the economy. The stock is actually trading within a couple of points of its all-time high. Traders bought the recent dip and BKE looks ready to run again. However, because we're somewhat skeptical of BKE's strength we're going to use a relatively tight stop at $46.75. More conservative traders could even cinch that up toward today's low (47.18). We are suggesting long positions now. If you are feeling cautious then wait for a new high over potential round-number resistance at $50.00. Our target is the $54.50-55.00 zone. The Point & Figure chart is bullish with a $65 target. We do not want to hold over the late May earnings report.

Picked on April xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/22/08 (unconfirmed)
Average Daily Volume: 506 thousand

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Lamar Advertising - LAMR - cls: 37.47 chg: +0.69 stop: 35.74

Company Description:
Founded in 1902, Lamar currently operates over 150 outdoor advertising companies in more than 40 states and Puerto Rico. Lamar has over 70 transit franchises that reach driving audiences across the United States, Canada and Puerto Rico through billboards, digital billboards, bus shelters, benches and buses. Lamar is also the nation's leader in the highway logo sign business, with operations in 19 states and the province of Ontario, Canada. (source: company press release or website)

Why We Like It:
It appears that LAMR is turning the corner and breaking out from its long-term bearish trend. The stock has built a higher low with its bounce in April. More recently shares have pushed through a significant trendline of resistance. Today the stock broke out past its 50-dma. Volume has been light on the rally, which is somewhat worrisome. Therefore we're going to try and limit our risk with a relatively tight stop at $35.74. More conservative traders could even use a tighter stop near under today's low (36.27). We are setting two targets. Our first target is the $39.90-40.00 range since the $40.00 mark is probably round-number resistance. Our second, more aggressive target is the $42.50-45.00 zone. We do not want to hold over the May 7th earnings report.

Picked on April xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 05/07/08 (confirmed)
Average Daily Volume: 2.0 million
 

New Short Plays

None today.
 

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