Editor's Note:

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

(bullish candidates) MSG, TIVO, ARIA, UAN, FRX, M, ANN, FSL, HWD, CPWM, BECN, VLTR, IRIS, OMPI, ZUMZ


NEW BULLISH Plays

Ardea Biosciences - RDEA - close: 22.57 change: +0.24

Stop Loss: 21.40
Target(s): 24.90
Current Gain/Loss: unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Shares of this biotech stock are ignoring recent weakness in the U.S. markets. Shares are instead breaking out past resistance near $22.00 and hitting new multi-month highs. I am suggesting bullish positions if RDEA can trade at $22.65. We'll use a stop at $21.40. Our first target is $24.90.
FYI: The Point & Figure chart for RDEA is bullish with a long-term $31.50 target.

Trigger @ $22.65

Suggested Position: buy RDEA stock @ (trigger)

Annotated chart:

Entry on March xx at $ xx.xx
Earnings Date 03/09/12
Average Daily Volume = 307 thousand
Listed on March 22, 2011


Websense, Inc. - WBSN - close: 20.90 change: +0.14v

Stop Loss: 19.85
Target(s): 23.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
A recent IBD article suggested WBSN is a takeover target with M&A activity heating up in the security software industry. This might explain WBSN's relative strength in the face of a market pullback. Shares broke through significant support near $20.00 and its 200-dma. Now WBSN is testing resistance at the $21.00 level.

I am suggesting a trigger to open bullish positions at $21.15 with a stop loss at $19.85. More conservative traders might want to consider a stop closer to today's intraday low (20.38) instead. FYI: The Point & Figure chart for WBSN is bullish with a $26.00 target.

Trigger @ $21.15

Suggested Position: buy WBSN stock @ (trigger)

Annotated chart:

Entry on March xx at $ xx.xx
Earnings Date 04/24/12 (unconfirmed)
Average Daily Volume = 388 thousand
Listed on March 22, 2011