Editor's Note:

Bullish candidates were plentiful tonight. These stocks caught my eye and might offer some opportunity:

FLIR, RDC, JCI, HOG, WDC, DTV, CCE, SWY, SVU, and PCAR

- James


NEW BULLISH Plays

AutoNation, Inc. - AN - close: 34.67 change: +0.39

Stop Loss: 33.49
Target(s): 38.00, 39.75
Current Gain/Loss: unopened
Time Frame: 3 to 5 weeks
New Positions: Yes, see trigger

Company Description

Why We Like It:
AN is one of the biggest auto dealers in the U.S. The stock was pretty resilient during the market's sell-off in mid March. Now shares are breaking out from their $32-34 trading range. Aggressive traders may want to buy AN right now following today's bounce from the $34.00 level. However, I still see some resistance at $35.00 from the February highs.

I am suggesting a trigger to open bullish positions at $35.25. If triggered we'll aim for the $38.00 and $39.75 levels although that might be a little optimistic. We do not want to hold over the late April earnings report.

Trigger @ 35.25

Suggested Position: Buy AN stock @ $35.25

- or -

Buy the May $36 calls (AN1121E36) current ask $0.95

Annotated chart:

Entry on March x at $xx.xx
Earnings Date 04/26/11 (unconfirmed)
Average Daily Volume: 972 thousand
Listed on March 29th, 2011