NEW BEARISH Plays

Allegheny Tech. - ATI - close: 39.30 change: -0.45

Stop Loss: 41.15
Target(s): 35.25
Current Gain/Loss: unopened
Time Frame: 2 to 3 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
ATI is a specialty metals company. Unfortunately for shareholders metals and steel stocks have been underperforming. ATI has a bearish trend of lower highs and lower lows and just broke down under round-number support at $40.00 this past week.

I am suggesting bearish positions at the open on Monday and we'll target a drop to $35.25. Keep in mind that ATI will likely gap down at the open and the put option will probably gap higher. We will start our stop just above the 10-dma at $41.15.

open bearish positions on Monday

Suggested Position: short ATI stock @ the open

- or -

buy the Apr $37.50 PUT (ATI1221P37.5) current ask $0.55

Annotated chart:

Entry on April xx at $ xx.xx
Earnings Date 04/25/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on April 07, 2011


DeVry, Inc. - DV - close: 32.85 change: -0.24

Stop Loss: 34.51
Target(s): 30.25
Current Gain/Loss: unopened
Time Frame: 2 to 3 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
DeVry is headquartered in Illinois but they provide educational services around the world. Unfortunately for shareholders the stock has been trending lower for weeks. This past week just saw DV breakdown to new multi-year lows.

I am suggesting bearish positions at the open on Monday. We will target a drop to $30.25 since the $30.00 level is likely support. More aggressive traders could aim lower. FYI: The Point & Figure chart for DV is bearish with a $19.00 target.

open bearish positions on Monday

Suggested Position: short DV stock @ the open

Annotated chart:

Entry on April xx at $ xx.xx
Earnings Date 04/24/12 (confirmed)
Average Daily Volume = 670 thousand
Listed on April 07, 2011