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New Plays
Long Plays
Short Plays
OFG None
TRA  
ZEUS  

New Long Plays

Oriental Fncl. - OFG - cls: 18.89 chg: +1.21 stop: 17.25

Company Description:
Oriental Financial Group Inc. is a diversified financial holding company operating under U.S. and Puerto Rico banking laws and regulations. (source: company press release or website)

Why We Like It:
The financials were doing a pretty good job of leading the market higher on Tuesday. There is still a large camp of analysts that believe we will see a large number of regional banks go under before the credit crisis is over. OFG happens to be a regional bank but shares have rallied substantially from their lows and investors have been buying the dips to the stock's 10-dma. We do not want to chase today's 6.8% rally and breakout over resistance at the 100-dma. Our plan is to buy a dip in the $18.25-18.00 zone. If triggered our short-term target is the $19.95 mark. More aggressive traders may want to aim higher. If OFG can trade over $19.00 it will produce a brand new triple-top breakout buy signal on the Point & Figure chart.

Picked on August xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/29/08 (unconfirmed)
Average Daily Volume: 395 thousand

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Terra Industries - TRA - cls: 46.52 change: +0.58 stop: 43.35

Company Description:
Terra Industries Inc., with 2007 revenues of $2.4 billion, is a leading international producer of nitrogen products. (source: company press release or website)

Why We Like It:
We are re-listing TRA as a bullish play. A couple of weeks ago we added TRA and rode it up past the $56.00 level (our first target) but then got caught in yesterday's massive sell-off. The pull back found support near TRA's rising 200-dma. Investors have been buying dips at TRA's 200-dma for months. We're suggesting readers buy the bounce with a stop loss under today's low (43.38). Our target is another rally to the $54.00-55.00 range. FYI: More conservative traders may want to play with a stop loss closer to $44.50 or $45.00 instead!

Picked on August 05 at $46.52
Change since picked: + 0.00
Earnings Date 10/23/08 (unconfirmed)
Average Daily Volume: 4.9 million

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Olympic Steel - ZEUS - cls: 52.50 chg: +3.43 stop: 47.99

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 16 facilities. (source: company press release or website)

Why We Like It:
Some of the steel stocks caught our eye today. Shares of ZEUS rallied sharply from their morning lows. The last few weeks have been extremely volatile for ZEUS. Actually almost anything related to commodities has seen some huge swings. This looks like an entry point to grab a short-term pop in ZEUS. Our target is $58.50. We're suggesting a stop loss under today's low. More conservative traders may want to consider a stop loss closer to $50.00 instead.

Picked on August 05 at $52.50
Change since picked: + 0.00
Earnings Date 10/30/08 (unconfirmed)
Average Daily Volume: 370 thousand
 

New Short Plays

None
 

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