Editor's Note:

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

(bullish ideas, many need to breakout past resistance) URBN, LRCX, BID, EVR, QLIK, YNDX, NICE, JDSU, VELT,


NEW BULLISH Plays

St. Jude Medical - STJ - close:

Stop Loss: 42.95
Target(s): 48.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
News that STJ's Riata wires, used with implanted heart defibrillators, were associated with 22 deaths did not have an impact on the stock. STJ recalled this product back in 2010. Since these Riata wires remain in nearly 79,000 patients that puts the chances of an issue at less than 0.001%. As a matter of fact shares of STJ have continued to rally. Today saw a breakout past resistance near $44.00 and its 300-dma.

I am suggesting bullish positions at the open tomorrow but only if both STJ and the S&P 500 index open positive. We'll use a stop loss at $42.95. Our multi-week target is $48.50. FYI: The Point & Figure chart for STJ is bullish with a $66.00 target.

Do not enter position unless STJ and the S&P 500 are both positive at the open

Suggested Position: buy STJ stock @ (open)

- or -

buy the May $45 call (STJ1219E45) current ask $1.50

Annotated chart:

Entry on March xx at $ xx.xx
Earnings Date 04/18/12 (unconfirmed)
Average Daily Volume = 3.0 million
Listed on March 27, 2011