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) SCHW, NILE, FAST, DRC, CAM, ODFL, EXP, NUAN, BK


NEW BULLISH Plays

eBay Inc. - EBAY - close: 45.79 change: +0.81

Stop Loss: 44.75
Target(s): 49.75
Current Gain/Loss: unopened

Entry on August xx at $ xx.xx
Listed on August 16, 2011
Time Frame: 4 to 6 weeks
Average Daily Volume = 12.3 million
New Positions: Yes, see below

Company Description

Why We Like It:
EBAY has been hovering under multi-year highs the last few weeks. The stock has built a sideways consolidation with a bullish trend of higher lows. Now EBAY is poised to breakout. I am suggesting a trigger to launch positions at $46.25.

Trigger @ 46.25

Suggested Position: buy EBAY stock @ (trigger)

- or -

buy the Oct $47 call (EBAY1220J47) current ask $1.90

Annotated chart:



Seagate Technology - STX - close: 34.62 change: +0.51

Stop Loss: 33.35
Target(s): 38.00
Current Gain/Loss: unopened

Entry on August xx at $ xx.xx
Listed on August 16, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 11.6 million
New Positions: Yes, see below

Company Description

Why We Like It:
STX is in the data storage device industry. The stock has been a very strong performer over the last ten weeks. STX has rallied to new all-time highs. The last few days have seen STX consolidate sideways near $34.00.

STX is arguably overbought here and overdue for a correction. However, with the market in rally mode STX could keep the momentum alive. I am suggesting we keep our position size small to limit our risk. We'll use a trigger at $34.75 to open bullish positions.

Trigger @ 34.75

Suggested Position: buy STX stock @ (trigger)

- or -

buy the Dec $37 call (STX1222L37) current ask $2.26

Annotated chart: