NEW BEARISH Plays

Suburban Propane Partners - SPH - close: 40.15 change: -0.76

Stop Loss: 41.51
Target(s): 35.50
Current Gain/Loss: unopened
Time Frame: 6 to 8 weeks
Entry on August xx at $ xx.xx
Listed on August 6, 2011
Average Daily Volume = 144 thousand
New Positions: Yes, see below

Company Description

Why We Like It:
SPH is a gas company focused on propane, fuel oil, and refined fuels. The company recently reported earnings that missed both the bottom and top line estimates. Shares are now slicing through support and look poised to breakdown under support near $40.00.

Friday's low was $39.81. I am suggesting a trigger to open bearish positions at $39.75. If triggered we'll target a long fall toward the June lows.

Trigger @ 39.75

Suggested Position: short SPH @ (trigger)

- or -

buy the Sep $40 PUT current ask $1.45

Annotated chart: