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SSCC None
T  

New Long Plays

Smurfit-Stone - SSCC - cls: 4.07 chg: -0.26 stop: 3.84

Company Description:
Smurfit-Stone Container Corporation is the industry's leading integrated containerboard and corrugated packaging producer and is one of the world's largest paper recyclers. (source: company press release or website)

Why We Like It:
We are going to gamble on a bounce in SSCC. The stock broke down under support just over a week ago and has collapsed, losing almost 30%. Shares managed to bounce near $4.00 and its multi-month trendline of lower lows today. The trend is obviously bearish but SSCC is due for a correction. This is a very high-risk play. We're suggesting a stop loss at $3.84. You may want to use a stop closer to today's low of $3.92. We have two targets. Our first target is $4.45. Our second target is $4.85.

Picked on June 30 at $ 4.07
Change since picked: + 0.00
Earnings Date 07/28/08 (unconfirmed)
Average Daily Volume: 6.3 million

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AT&T - T - close: 33.69 change: +0.93 stop: 32.49

Company Description:
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. (source: company press release or website)

Why We Like It:
Shares of T have fallen almost 20% in just the last month. The stock is very oversold and due for a bounce. It looks like that bounce may have begun today. The stock produced a bullish engulfing candlestick pattern, which is typically a one-day bullish reversal pattern. This could just be an oversold bounce on the way to new lows so we suggest a relatively tight stop. Our target is the $36.00-36.50 zone. This is a high-risk play as we speculate on a short-term bottom on T.

Picked on June 30 at $33.69
Change since picked: + 0.00
Earnings Date 07/23/08 (unconfirmed)
Average Daily Volume: 24.4 million
 

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