Editor's Note:

In addition to tonight's new plays the stocks below might offer a short-term trading opportunity. Check them out:

NILE - The stock's bounce reversed at the 50-dma today. I would be tempted to open bearish positions on NILE if shares traded under $35.00. You could aim for the $32.00-30.50 area.

ADP - shares are breaking out past major resistance near $55.00.

RDC - watch for a breakout past its simple 150-dma.

CIT - a rally past $37.50 might be an entry point.

EXPE - the stock appears to be breaking out from a three-week consolidation pattern.

CRZO - this stock is testing the bottom of its $24-30 trading range.

NUAN - technically today's drop has produced a bearish engulfing candlestick (reversal) pattern. I would expect some follow through lower. There could be some support in the $26-27 area.


NEW BULLISH Plays

BioMarin Pharmaceuticals - BMRN - close: 35.86 change: +0.87

Stop Loss: 33.80
Target(s): 39.50
Current Gain/Loss: unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
BMRN is a biotech stock with a steady trend of higher lows and higher highs. Traders just bought the dip near short-term support in the $34-35 area. I am suggesting we buy the bounce today with a stop loss at $33.80. However, we only want to open positions if both the S&P 500 and BMRN open positive tomorrow morning. If the S&P 500 happens to open flat then we'll base our entry on BMRN's open.

Our target is $39.50. We want to exit prior to the earnings report in mid February. FYI: The Point & Figure chart for BMRN is bullish with a $47.50 target.

NOTE: BMRN does have options but the spreads are too wide to trade.

*See Entry Details Above*

Suggested Position: buy BMRN stock @ the open

Annotated chart:

Entry on January xx at $ xx.xx
Earnings Date 02/16/12 (unconfirmed)
Average Daily Volume = 839 thousand
Listed on January 17, 2011


NEW BEARISH Plays

C&J Energy Services, Inc. - CJES - close: 18.00 change: -0.67

Stop Loss: 19.75
Target(s): 15.00
Current Gain/Loss: unopened
Time Frame: 4 to 6 weeks, exit prior to earnings
New Positions: Yes, see below

Company Description

Why We Like It:
CJES is in the oil services industry. Shares have spent the last few weeks building a top of lower highs. The stock finally broke its bullish trend of higher lows and its 50-dma a few days ago. Today saw the oversold bounce reverse under the $20 level (the high was $19.72).

I am suggesting small bearish positions if CJES trades at $17.80. We'll use a stop above Tuesday's high. Our target is $15.00. We do want to keep our position size small to limit our risk. The most recent data listed short interest at about 15% of the small 35.9 million-share float. That does raise the risk of a short squeeze. You may want to use put options to limit your risk instead of shorting the stock.

FYI: The Point & Figure chart for CJES is bearish with a $12.00 target.

Trigger @ 17.80

Suggested Position: short CJES stock @ 17.80

- or -

buy the Feb $17.50 put (CJES1218N17.5) current ask $0.95

Annotated chart:

Entry on January xx at $ xx.xx
Earnings Date 02/15/12 (unconfirmed)
Average Daily Volume = 923 thousand
Listed on January 17, 2011