NEW BULLISH Plays

Shaw Group - SHAW - close: 35.89 change: +0.20 stop: 33.90

Company Description:
The Shaw Group Inc. (NYSE:SHAW) is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries. A Fortune 500 company with fiscal year 2009 annual revenues of $7.3 billion, Shaw has approximately 28,000 employees around the world . (source: company press release or website)

Why We Like It:
SHAW is another bullish candidate that doesn't look overbought. Shares have been trending higher since the November 2009 lows but really got a boost back in January. The rally stalled when SHAW hit the $36.00 level. Yet now after five weeks of consolidating sideways in the $34-36 range shares finally look ready to breakout. I am suggesting a trigger to launch bullish positions at $36.25. The recent high was $36.15. If we are triggered at $36.25 our target to exit is $39.90. FYI: The point & figure chart is bullish with a $49 target. Please note that we will plan to exit ahead of the April 7th earnings report so we only have a couple of weeks.

Trigger to open bullish positions @ 36.25

Suggested Position: SHAW stock @ 36.25 (unopened)

Annotated chart:

Entry on March xx at $xx.xx
Earnings Date 04/07/10 (unconfirmed)
Average Daily Volume: 669 thousand
Listed on March 24th, 2010