Additional Trading Ideas:
In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:
BYI, MRK, ARIA, UMBF, JKHY, SYNA, ATVI, TXT, DK, MTW, FSL
CLF, SLW, BIOS,
NEW BULLISH Plays
iShares Japan Index - EWJ - close: 10.53 change: +0.07
Stop Loss: 9.90
Current Gain/Loss: unopened
Entry on March 12 at $--.--
Listed on March 11, 2013
Time Frame: 9 to 12 weeks
Average Daily Volume = 30 million
New Positions: Yes, see below
Why We Like It:
The EWJ is a way for investors to play the Japanese stock market. Right now there is a growing expectation that the Bank of Japan will launch into another round of aggressive monetary easing. More QE should be a boon for Japanese equities. This has pushed the EWJ to new 52-week highs and a breakout past resistance in the $10.20-10.25 area.
I am suggesting new bullish positions tomorrow at the opening bell. I would limit our initial trade size. A better entry point would be a dip into the $10.30-10.20 zone but there is no guarantee EWJ will provide such a dip.
We have a longer-term time frame for this trade to work. If you're going to play it, be patient.
Suggested Position: buy the EWJ @ (the open)