Editor's Note:

In addition to tonight's new play these stocks caught my eye and might offer an opportunity.

ALTR - this semiconductor stock appears to be breaking support near $34.00. This might be an entry point for bearish positions. I'd look for a drop toward the October lows.

CHSI - the larger trend for CHSI is bearish with a pattern of lower highs and lower lows. Shares just produced a lower high and a failed rally near $53.00. Today's close under $50.00 might be a bearish entry point.

OXM - this stock has been showing relative strength and just hit new multi-year highs on Tuesday morning. Traders bought the dip near $40.20 today and the intraday chart is suggesting OXM is poised to bounce. Traders might want to open small bullish positions now with a tight stop just under $40.00.

-James


NEW BEARISH Plays

Cash America Intl. - CSH - close: 45.32 change: -1.34

Stop Loss: 47.25
Target(s): 40.25
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
CSH operates multiple chains of pawn shops and check cashing outlets. You'd think business would be good in this tough economic times. The stock did hit new all-time highs back in July and September of this year. Since then the stock has begun to breakdown. The recent oversold bounce in late November failed at resistance near $50 and its 200-dma.

Now CSH is testing support near $45.00. I am suggesting a trigger to open bearish positions at $44.75 with a stop loss $47.25. Our target is $40.25.
FYI: The Point & Figure chart for CSH is bearish with a $33 target.

Trigger @ 44.75

Suggested Position: short CSH stock @ 44.75

- or -

buy the Jan $45 put (CSH1221M45) ask $2.00

Annotated chart:

Entry on December xx at $ xx.xx
Earnings Date 01/26/12 (unconfirmed)
Average Daily Volume = 331 thousand
Listed on December 14, 2011