Editor's Note:

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

(bullish ideas) ATVI, LTD, MAKO, DD, USB, WFC


NEW BULLISH Plays

The Home Depot - HD - close: 51.87 change: -0.04

Stop Loss: 50.75
Target(s): 54.75
Current Gain/Loss: unopened
Time Frame: exit prior to the May 15th earnings report
New Positions: Yes, see below

Company Description

Why We Like It:
This home improvement store giant has continue to see its stock price march higher month after month. Recently shares have been consolidating sideways under resistance at the $52.00 level. A breakout would mean new nine-year highs.

I am suggesting a trigger to launch positions at $52.25 with a stop loss at $50.75. Our short-term target is $54.75 but we'll plan on exiting prior to the May 15th earnings report.

Trigger @ $52.25

Suggested Position: buy HD stock @ (trigger)

- or -

buy the May $52.50 call (HD1219E52.5) current ask $0.72

Annotated chart:

Entry on April xx at $ xx.xx
Earnings Date 05/15/12 (confirmed)
Average Daily Volume = 8.6 million
Listed on April 26, 2011