NEW BULLISH Plays

Energizer Holdings - ENR - close: 54.10 change: +1.86 stop: 49.90

Why We Like It:
ENR, the maker of Energizer batteries and other consumables, is starting to breakout higher after weeks of consolidating sideways. Today's move is a bullish breakout over both its 50-dma and its 200-dma. However, I suspect the jobs number will disappoint the market tomorrow and stocks could dip before resuming their up trend. I'm suggesting readers buy a dip in ENR at $52.75. More conservative traders could look for a dip back toward $51.00 and technical support at the 100-dma. I'm placing our stop loss at $49.90. Our first target is $55.75. The Point & Figure chart is bullish with a $64 target. We'll set our second target at $59.95.

Annotated chart:

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/28/09 (unconfirmed)    
Average Daily Volume:       781 thousand
Listed on  July 01, 2009    


3x Energy Bear ETF - ERY - close: 22.18 change: -0.005 stop: 19.95

Why We Like It:
The action in crude oil over the last few days has been growing more bearish. If the commodity breaks down it will weigh on the oil stocks. We're going to try and play the ERY triple-leveraged inverse ETF again. Nimble traders could try buying a bounce near $20.00. I'm setting our trigger to buy the ERY at $23.30. This is a very volatile ETF so we're using a wide stop loss and I'm suggesting readers only trade half (or less) their normal position size. If triggered at $23.30 our first target is $27.40. Our second target is $29.90. My time frame is four to six weeks or less.

FYI: A more direct play on a breakdown in oil, outside of futures, would be bearish trades on the USO or DXO.

Annotated chart:

Entry on      June xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          00/00/00 
Average Daily Volume:       4.0 million 
Listed on  July 01, 2009