NEW BULLISH Plays

McMoRan Exploration - MMR - close: 9.92 change: -0.12

Stop Loss: 9.49
Target(s): 13.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
MMR is an oil and gas company focused on exploring the shallow waters off the Gulf coast of the U.S. It looks like the stock has found a bottom over the last few weeks. If this drift higher continues MMR could see a short squeeze. The most recent data listed short interest at 21% of the 95.3 million share float.

The intraday high today was $10.28. I am suggesting a trigger to open bullish positions at $10.35. We'll use a stop loss at 9.49 to start. That's a bid wide. I do see potential resistance at $11.50 and the simple 200-dma but we're setting our multi-week target at $13.50.

Trigger @ 10.35

Suggested Position: buy MMR stock @ (trigger)

- or -

buy the Aug $10 call (MMR1218H10) current ask $1.23

Annotated chart:

Weekly chart:

Entry on June xx at $ xx.xx
Earnings Date 07/17/12 (unconfirmed)
Average Daily Volume = 2.5 million
Listed on June 18, 2011


The TJX Companies - TJX - close: 43.04 change: +0.58

Stop Loss: 41.15
Target(s): 47.00
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
TJX has spent more than six weeks consolidating sideways under the $43.00 level. Today the stock finally breaks out past this key resistance. I am suggesting we launch bullish positions on this breakout. We'll use a stop at $41.15, just under the 50-dma. Our multi-week target is $47.00.

Suggested Position: buy TJX stock @ (the open)

- or -

buy the Jul $45 call (TJX1221G45) current ask $0.30

Annotated chart:

Entry on June xx at $ xx.xx
Earnings Date 08/14/12 (unconfirmed)
Average Daily Volume = 5.7 million
Listed on June 18, 2011