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New Plays
Long Plays
Short Plays
SLM None
STLD  

Play Editor's Note: At this point I still expect this rally to fail but it could last a few more days. FYI: Just a note on BIG. The stock just hit the top of its channel (trendline of resistance). Nimble traders could try a high-risk short with a target near $30.


New Long Plays

SLM Corp. - SLM - close: 23.85 change: -0.78 stop: 21.25

Company Description:
SLM Corporation, commonly known as Sallie Mae, is the nations leading provider of saving- and paying-for-college programs. The company manages more than $169 billion in education loans and serves 10 million student and parent customers. (source: company press release or website)

Why We Like It:
SLM has been crushed in the last year falling from $58 to $15. Now the stock is slowly recovering. Shares are currently testing resistance near $24.00. The technical picture is improving. We are suggesting two different entry points to buy the stock. If SLM breaks out higher we want to buy it at $24.25. If SLM dips then we want to buy it at $22.50. Our target is the $28.00-29.00 range or the 200-dma, whichever one SLM hits first.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/17/08 (unconfirmed)
Average Daily Volume: 9.1 million

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Steel Dynamics - STLD - close: 39.47 change: +2.72 stop: 36.49

Company Description:
Steel Dynamics, Inc. (SDI) is the nations fifth largest producer of carbon steel products with 2006 annual revenues of $3.2 billion and annual shipments of 4.7 million tons. SDI operates five electric-furnace mini-mills and employs about 3,500. (source: company press release or website)

Why We Like It:
STLD raised its Q2 guidance on Thursday night and the stock soared more than 7% on Friday as investors reacted to the news. We are suggesting two different entry points. If STLD breaks out over resistance at $40.00 then we want to buy it at $40.10. If STLD pulls back then we're suggesting readers buy it in the $38.25-38.00 zone. Our target is the $44.00-45.00 range. We do not want to hold over the July earnings report. The P&F chart is bullish with a $50 target.

Picked on June xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/21/08 (confirmed)
Average Daily Volume: 4.6 million
 

New Short Plays

None today.
 

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