In addition to tonight's new play these stocks caught my eye and might offer an opportunity. Check them out:
VECO - if shares can breakout past the 50-dma it might be a buy.
FEIC - Today's gain has pushed FECI to new all-time highs. This might be an entry point after its two-month consolidation.
LVS - I would keep an eye on this casino stock. Shares just broke out past their 50-dma. A rally past $45.00 might be a new bullish entry point.
NEW BULLISH Plays
Textainer Group Holdings - TGH - close: 30.10 change: +1.07
Stop Loss: 28.95
Current Gain/Loss: unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
TGH is in the cargo and freight container business. The stock has been consolidating sideways in the $29.00-30.40 zone for over three weeks. A breakout could spark some short covering.
The most recent data listed short interest at 11% of the very small 12.8 million share float. That raises the risk of a short squeeze. Plus, TGH should appeal to the high-yield crowd since shares sport a 4.7% yield.
I am suggesting a trigger to open bullish positions at $30.60 with a stop loss at $28.95. More conservative traders may want to use a stop closer to $29.50 instead.
NOTE: TGH does have options but the spreads are a little wide.
Trigger @ 30.60
Suggested Position: buy TGH stock @ 30.60
Entry on January xx at $ xx.xx
Earnings Date 02/09/12 (unconfirmed)
Average Daily Volume = 172 thousand
Listed on January 11, 2011