Editor's Note:

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

FB - Check out shares of FB. The stock is breaking out past short-term resistance at the $28.00 level. Nimble traders could use this as a bullish entry point. You might be able to target a move toward $30 or $31.

HLF - After weeks of churning sideways it looks like HLF may have finally found a bottom. HLF appears to have resistance in the $47.00-47.50 zone. A breakout through that area could be a bullish entry point.

NUS - The chart for NUS looks similar to HLF except NUS has a potential bullish double bottom pattern with support at $40.00. A rally past $45.00 could be an aggressive bullish entry point. Look for resistance at the 50-dma or 200-dma.


NEW BULLISH Plays

Pharmacyclics Inc. - PCYC - close: 40.52 change: +0.92

Stop Loss: 39.30
Target(s): 44.50
Current Gain/Loss: unopened
Time Frame: 4 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
PCYC is a drug maker. The stock looks prone to short squeezes. The most recent data listed short interest at almost 12% of the 54 million share float. The rally stalled a few days ago but there hasn't been any profit taking.

PCYC has been digesting gains with a sideways move in the $39-41 zone. I do consider this an aggressive, higher-risk trade. I'm suggesting a trigger to launch bullish positions at $41.10. We'll use a stop at $39.30 (under today's low). Our target is $44.50. Let's keep our position size small.

Trigger @ 41.10 *small positions*

Suggested Position: buy PCYC stock @ (trigger)

- or -

buy the Jul $42 call (PCYC1221G42) current ask $2.00

Annotated chart:

Entry on June xx at $ xx.xx
Earnings Date 09/12/12 (unconfirmed)
Average Daily Volume = 1.2 million
Listed on June 14, 2011


Spreadtrum Comm. - SPRD - close: 19.51 change: +0.90

Stop Loss: 18.80
Target(s): 24.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
SPRD is in the semiconductor industry. This Chinese company makes components for smartphones and similar devices. The stock appears to have formed a significant bottom over the last several months. There is major resistance at $20.00 and a breakout should herald a new trend higher.

I am suggesting a trigger to launch positions at $20.10. We'll use a stop loss at $18.80, just under the simple 200-dma. Our multi-week target is $24.00.

Trigger @ 20.10

Suggested Position: buy SPRD stock @ (trigger)

- or -

buy the Jul $22 call (SPRD1221G22) current ask $0.60

Annotated chart:

Entry on June xx at $ xx.xx
Earnings Date 08/02/12 (unconfirmed)
Average Daily Volume = 1.0 million
Listed on June 14, 2011