NEW BULLISH Plays

Bally Tech. - BYI - close: 28.63 change: +0.63 stop: 27.45

Why We Like It:
Bally Technologies is part of the gambling and gaming industry. The stock has been building a bullish pattern of higher lows while it pushes against resistance in the $29.70-30.00 zone. I'm suggesting readers buy BYI at $30.10. If triggered we want to take some profits at $32.90 and then again at $34.90.

Annotated chart:

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          08/19/09 (unconfirmed)    
Average Daily Volume:       859 thousand
Listed on  June 24, 2009    


Western Digital - WDC - close: 25.76 chg: +0.76 stop: 23.95

Why We Like It:
Technology is out performing the rest of the market and this hard-drive maker is poised to breakout over resistance at $26.00. The stock is a big winner for the second quarter and could see window dressing before the end of June. I'm suggesting readers buy WDC at $26.10. Our first target is $29.75.

Annotated chart:

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       4.6 million 
Listed on  June 24, 2009    


NEW BEARISH Plays

Raytheon - RTN - close: 44.22 change: -0.53 stop: 46.55

Why We Like It:
Defense stocks have been under performing. While RTN has not declined as much as the defense sector indices have the stock could play catch up to its peers if the market slides any lower. Shares of RTN are breaking down under the 50-dma and the bounce today reversed near $45.00. I'm suggesting bearish positions now with a stop loss at $46.55. I do see some support near $42.00 but our first target is $40.25. The P&F chart is very bearish with a $13 target.

Annotated chart:

Entry on      June 24 at $44.22 
Change since picked:     + 0.00   			
Earnings Date          07/23/09 (unconfirmed)    
Average Daily Volume:       3.5 million 
Listed on  June 24, 2009