In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates:
MS, ITUB, FIO, LM, RAI, ODFL, IACI, SLXP, PCYC, TSLA, CALM, XHB, NI
NEW BULLISH Plays
American Intl. Group - AIG - close: 29.45 change: +0.23
Stop Loss: 27.75
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below
Why We Like It:
Like a phoenix rising from the ashes AIG is taking flight. Shares were crushed during the 2008 financial crisis. The company did a 1:20 reverse split back in 2009. Trading this stock is not for the faint of heart with so much volatility (just look at a weekly chart).
Lately AIG has produced a relatively steady bullish trend of higher lows. I am suggesting small bullish positions tomorrow morning but only if both AIG and the S&P 500 index open positive. More conservative traders might want to wait for AIG to actually close over the $30.00 level before considering new positions. We'll use a stop loss at $27.75. Our multi-week target is $34.50.
FYI: The Point & Figure chart for AIG is bullish with a long-term $42.50 target.
Do not enter position unless AIG and the S&P 500 are both positive at the open
- small positions -
Suggested Position: buy AIG stock @ (the open)
- or -
buy the Apr $30 call (AIG1221D30) current ask $1.20
Entry on March xx at $ xx.xx
Earnings Date 05/07/12 (unconfirmed)
Average Daily Volume = 6.1 million
Listed on March 01, 2011