Editor's Note:

In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates:

(bullish candidates) SLXP, DXPE, SUI, PLD, CHKR, EXBD


NEW BULLISH Plays

Targa Resources - TRGP - close: 44.78 change: +0.58

Stop Loss: 43.75
Target(s): 48.00
Current Gain/Loss: unopened
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
TRGP is in the natural gas utility industry. Shares have been marching higher for weeks. The recent correction has stalled as traders buy the dip near $44.00 and its 20-dma. Today's display of relative strength looks like a potential entry point.

I am suggesting small bullish positions if TRGP can trade at $45.05 and we'll use a stop loss at 43.75. Our target is $48.00.

Trigger @ $45.05 (small positions)

Suggested Position: buy TRGP stock @ 45.05

Annotated chart:

Entry on March xx at $ xx.xx
Earnings Date --/--/-- (unconfirmed)
Average Daily Volume = 215 thousand
Listed on March 05, 2011