Option Investor
New Plays
Click here to email James
HAVING TROUBLE PRINTING?
Printer friendly version
New Plays
Long Plays
Short Plays
ALJ None
CRS  
CXG  

New Long Plays

Alon USA Energy - ALJ - cls: 10.39 chg: +0.50 stop: see play

Company Description:
Alon USA Energy, Inc., headquartered in Dallas, Texas, is an independent refiner and marketer of petroleum products, operating primarily in the South Central, Southwestern and Western regions of the United States. (source: company press release or website)

Why We Like It:
We are adding more exposure to the oil and energy sector. Shares of ALJ look like they are poised to breakout from a bull flag-like pattern. Today's move over the simple 50-dma could be a bullish entry point. However, we want to see either a breakout to new relative highs or a dip back to the 10-dma. We're listing two potential entry points. We are listing one entry point to buy ALJ at $10.75, which would be a new relative high. If triggered at $10.75 we are suggesting a stop loss at $9.75. If the stock pulls back then we're suggesting readers buy a dip at $9.65 with a stop loss at $9.24. Our target is the 100-dma or $12.50, whichever ALJ hits first. FYI: The Point & Figure chart is bullish with a $17 target.

Picked on August xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/06/08 (unconfirmed)
Average Daily Volume: 604 thousand

---

Carpenter Tech. - CRS - cls: 39.76 chg: +1.39 stop: 37.95

Company Description:
Carpenter Technology, based in Wyomissing, PA, produces and distributes specialty alloys, including stainless steels, titanium alloys and superalloys, and various engineered products. (source: company press release or website)

Why We Like It:
It looks like shares of CRS may have finally put in a bottom over the last couple of months. The stock has tried to breakout over the $40.00 level several times. Now the stock is coiling under resistance trying to build up enough steam for a breakout. We're suggesting readers buy CRS at $40.25 with a stop loss at $37.95. If triggered our target is the $44.75 mark.

Picked on August xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/30/08 (unconfirmed)
Average Daily Volume: 865 thousand

---

CNX Gas - CXG - cls: 30.56 chg: +1.28 stop: 29.35

Company Description:
CNX GAS CORPORATION is an independent natural gas exploration, development, production and gathering company operating in the Appalachian and Illinois basins of the United States. (source: company press release or website)

Why We Like It:
Natural gas stocks out performed the market today and several stocks in the group look like they have put in a bottom over the last few weeks. The rally in CXG looks like a tempting entry point but we want to see more confirmation. We're suggesting readers buy CXG at $31.05 (just above today's high). If we are triggered we'd use a stop loss at $29.35, which is just under today's low. Our target is the $34.00-35.00 zone.

Picked on August xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/23/08 (unconfirmed)
Average Daily Volume: 373 thousand
 

New Short Plays

None today.
 

Premier Investor New Play Archives