Editor's Note:

Additional Trading Ideas:

In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:

(bullish ideas) DLTR, TJX, PATK, ACC, MNKD, GMCR, PCYC, CTB, UGI

(bearish ideas) CE, CZR, LRCX, DIN, HMIN, IFF, ENDP, LVLT


NEW BULLISH Plays

Extra Space Storage - EXR - close: 30.94 change: +0.41

Stop Loss: 29.99
Target(s): 33.50
Current Gain/Loss: unopened
Time Frame: exit prior to the late July earnings report
New Positions: Yes, see below

Company Description

Why We Like It:
EXR is a REIT stock and the business is focused on the self-storage industry. Americans love their stuff and the stock has been climbing for months. Although recently shares did see a pull back toward technical support at the 100-dma in early June.

Friday's show of relative strength (+1.3%) left EXR at a new all-time high. I am suggesting a trigger to launch bullish positions at $31.15. We'll use a stop loss at $29.99. Our target is $33.50 but we'll plan to exit prior to the late July earnings report.

Trigger @ 31.15

Suggested Position: buy EXR stock @ (trigger)

Annotated chart:

Entry on July xx at $ xx.xx
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 1.5 million
Listed on July 07, 2011


Threshold Pharmaceuticals - THLD - close: 8.19 change: +0.25

Stop Loss: 7.49
Target(s): 9.75
Current Gain/Loss: unopened
Time Frame: exit prior to the very late July /early August earnings
New Positions: Yes, see below

Company Description

Why We Like It:
THLD is a biotech firm that is breaking out from its multi-week trading range. The stock had been stuck in the $6.00-7.50 zone. This past week has created a bullish breakout. Shares could actually accelerate higher since there is a good chance THLD might see a short squeeze. The most recent data listed short interest at 18% of the 40.7 million-share float.

I am suggesting a trigger to open bullish positions at $8.25 with a stop loss at $7.49, just under the simple 10-dma. Biotechs can be volatile stocks so readers may want to limit their position size to reduce risk. The 2012 high near $9.00 could be resistance but we're aiming for $9.75 (although we'll exit prior to the late July/early August earnings report).

Trigger @ 8.25

Suggested Position: buy THLD stock @ (trigger)

- or -

buy the Aug $7.50 call (THLD1218H7.5) current ask $1.25

Annotated chart:

Entry on July xx at $ xx.xx
Earnings Date 07/30/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on July 07, 2011


NEW BEARISH Plays

Groupon, Inc. - GRPN - close: 8.44 change: -0.38

Stop Loss: 9.55
Target(s): 6.25
Current Gain/Loss: unopened
Time Frame: exit prior to the early August earnings report
New Positions: Yes, see below

Company Description

Why We Like It:
GRPN is a leader in the daily deal service that's become so popular these days. Unfortunately the stock continues to sink. Shares just broke down under support near $9.00 to close at new record, all-time lows.

I am suggesting we launch small bearish positions at the open on Monday with a stop loss at $9.55. Our target is $6.25. You may want to limit your risk by trading the put options instead.

*Small Positions*

Suggested Position: short GRPN stock @ (the open)

- or -

buy the Aug $8.00 PUT (GRPN1218T8) current ask $0.80

Annotated chart:

Entry on July xx at $ xx.xx
Earnings Date 08/08/12 (unconfirmed)
Average Daily Volume = 8.1 million
Listed on July 07, 2011