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New Plays
Long Plays
Short Plays
DIA None
GRMN  
TRA  
ZEUS  

New Long Plays

DIAMONDS - DIA - close: 113.74 chg: +1.53 stop: 111.69

Company Description:
The DIAMONDS (DIA) is an exchange traded fund (ETF) designed to mimic the Dow Jones Industrial Average.

Why We Like It:
If the market has finally put in a short-term bottom then the DIA should be poised for a bear-market rally! Volume was huge today and more aggressive traders may want to jump in now. We are setting a trigger to go long at $114.30, which should be a breakout of the trading range. If triggered our target is the $119.00 mark.

Picked on July xx at $xx.xx
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 15.7 million

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Garmin - GRMN - close: 44.10 chg: +1.51 stop: 41.49

Company Description:
Through its operating subsidiaries, Garmin Ltd. designs and manufactures navigation, communication and information electronics. Garmin is a leader in the general aviation and consumer GPS markets and its products serve aviation, marine, outdoor, fitness, automotive, mobile and OEM applications. (source: company press release or website)

Why We Like It:
Fundamentally, GRMN appears to be facing some very stiff competition with the rise of the smart-phone. It would not surprise me to see GRMN trading under $40 before the year is out. However, the stock has been able to hold the $40 region for weeks now and on a short-term basis the stock looks poised to breakout higher. We're suggesting long positions now with a stop loss at $41.49. More conservative traders may want to wait for a new rise over $45.15 before initiating positions. Our target is the $49.50 mark.

Picked on July 08 at $44.10
Change since picked: + 0.00
Earnings Date 07/30/08 (confirmed)
Average Daily Volume: 3.0 million

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Terra Inds. - TRA - close: 45.44 chg: +0.28 stop: 40.99

Company Description:
Terra Industries Inc. is a leading international producer of nitrogen products. The company employs approximately 900 people in North America and is headquartered in Sioux City, Iowa. (source: company press release or website)

Why We Like It:
The fertilizer and chemical stocks have pulled back sharply from their highs but have not yet broken their bullish trend. Traders have been consistently buying the dips to TRA's 200-dma. Today's bounce looks like another entry point to get long the stock. We have two targets. Our first target is $49.75. Our second target is $54.00. We do not want to hold over the late July earnings report.

Picked on July 08 at $45.44
Change since picked: + 0.00
Earnings Date 07/24/08 (confirmed)
Average Daily Volume: 4.6 million

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Olympic Steel - ZEUS - cls: 56.56 chg: -0.45 stop: 53.49

Company Description:
Founded in 1954, Olympic Steel is a leading U.S. steel service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel products. Headquartered in Cleveland, Ohio, the Company operates 15 facilities. (source: company press release or website)

Why We Like It:
Ouch! Shares of ZEUS have lost more than 30% in just the last five trading days. The profit taking in the steel and metal stocks has been brutal. Now that the market is trying to bounce this group, including ZEUS, could see a sharp rebound. We're suggesting bullish positions now with a stop under today's low. A 38.2% Fibonacci retracement of the decline would be a bounce back to $63.00. We're setting our target at $62.50.

Picked on July 08 at $56.56
Change since picked: + 0.00
Earnings Date 07/31/08 (unconfirmed)
Average Daily Volume: 319 thousand
 

New Short Plays

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