Editor's Note:

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

(bullish candidates) HOS, RDC, PEET, NXPI, CSL, A, HII, TSLA, TSO, CREE, WFR, EXPD, OII, PXP, UNH, SIRO, PCAR, GHL, UHS, SLGN, VRSN, and O


NEW BULLISH Plays

Broadcom Corp. - BRCM - close: 37.81 change: +0.06

Stop Loss: 36.45
Target(s): 44.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Consumers have started to get their hands on the new AAPL iPad. Dissecting the new iPad reveals that it uses one of BRCM's devices. This news didn't have much impact on the stock price Friday. The short-term trend for BRCM is up but shares are facing heavy resistance in the $38.00-38.50 zone.

I am suggesting a trigger to open bullish positions at $38.75 with a stop loss at $36.45. If triggered our multi-week target is $44.00. Currently the Point & Figure chart is bearish but if BRCM can trade over $39.00 it will create a brand new buy signal.

Trigger @ 38.75

Suggested Position: buy BRCM stock @ (trigger)

- or -

buy the May $40 call (BRCM1219E40) current ask $1.18

Annotated chart:

Weekly chart:

Entry on March xx at $ xx.xx
Earnings Date 04/26/12 (unconfirmed)
Average Daily Volume = 8.8 million
Listed on March 17, 2011


Petroleum Development - PETD - close: 39.57 change: +0.32

Stop Loss: 37.40
Target(s): 44.75
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Colorado-based PETD focuses on oil and gas production inside the U.S. The stock has recently broken out past resistance in the $37-38 zone and now it's facing major resistance near $40.00. If the rally continues PETD could see a short squeeze. The most recent data listed short interest at 20% of the small 22.5 million-share float. It's also worth noting that PETD appears to have formed an inverse head-and-shoulders patter with the neckline in the $39-40 zone.

I am suggesting a trigger to open bullish positions at $40.25 with a stop loss at $37.40. Our target is $44.75. More aggressive traders could aim higher. The Point & Figure chart for PETD is bullish with a $50.00 target.

Trigger @ $40.25

Suggested Position: buy PETD stock @ (trigger)

- or -

buy the Apr $40 call (PETD1221D40) current ask $1.90

Annotated chart:

Weekly chart:

Entry on March xx at $ xx.xx
Earnings Date 05/10/12 (unconfirmed)
Average Daily Volume = 488 thousand
Listed on March 17, 2011