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New Plays
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PIN None
XHB  

New Long Plays

PowerShares India - PIN - close: 26.39 chg: +0.17 stop: 25.74

Company Description:
The PowerShares India is an exchange traded fund (ETF) that mimics the Indus India index.

Why We Like It:
This is essentially a momentum play on the recently created PIN. The stock has been out performing the U.S. markets and hitting new highs. Granted we don't have a lot of history yet for this equity the recent strength looks like an entry point. We're trying to keep our stop loss tight at $25.74, under the recent dip. Our target is the $27.85-28.00 zone.

Picked on April 24 at $26.39
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 97 thousand

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S&P SPDR Homebuilders - XHB - cls: 22.67 chg: +0.68 stop: 21.45

Company Description:
The S&P SPDR on Homebuilders (XHB) is an exchange traded fund (ETF) focused on the homebuilding segment of the market.

Why We Like It:
The new home sales report today was terrible yet the homebuilders rallied on the news. That's pretty bullish with investors are buying bad news. The XHB bounced from yesterday's lows near the rising 50-dma. We're suggesting readers buy it here and we'll use a close stop under today's low. We are setting two targets. Our first target is the $24.40-25.00 range. The $25.00 level will probably be resistance. Our second, much more aggressive target is the $27.00-27.50 range. The Point & Figure chart is very bullish with a $35.00 target.

Picked on April 24 at $22.67
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 7.9 million
 

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