NEW BULLISH Plays

Best Buy Inc. - BBY - close: 41.78 change: +1.54 stop: 39.40

Why We Like It:
BBY has spent the last seven months consolidating sideways under resistance near $42.00. Shares appear to have produced an inverse head-and-shoulders pattern, which is bullish. This one happens to have two right shoulders (or three depending on how you draw it on the daily chart). If BBY breaks out over $42.00 the rally could be significant.

I'm suggesting a trigger to buy BBY at $42.20. If triggered our first target is $46.00. Our second target is $49.80. Our time frame is several weeks.

Annotated chart:

Entry on  November xx at $xx.xx <-- TRIGGER @ 42.20
Change since picked:     + 0.00   			
Earnings Date          12/15/09 (unconfirmed)    
Average Daily Volume:       5.1 million 
Listed on  November 09, 2009    


Baker Hughes Inc. - BHI - close: 43.06 change: +1.88 stop: 40.49

Why We Like It:
It looks like the correction in BHI could be ending. Commodity stocks were showing strength on the dollar's weakness. BHI has bounced twice near its exponential 200-dma. I'm betting this new rebound continues. Buy BHI here but use small positions. The energy-related stocks could be volatile. More conservative traders may want to wait for a close over $44.00 before initiating positions. Our first target is $47.00. Our second target is $49.85.

Annotated chart:

Entry on  November 09 at $43.06 
Change since picked:     + 0.00   			
Earnings Date          01/28/10 (unconfirmed)    
Average Daily Volume:       5.6 million 
Listed on  November 09, 2009