Play Editor's Note: After a day like today you can't help but find bullish candidates. However, both the NASDAQ Composite and the S&P 500 have rallied toward their recent highs or short-term resistance. Combine that with the jobs report tomorrow and we don't feel like chasing today's rally. Since we're not adding many new plays I'm listing some stocks we're watching.
DE - Shares of Deere Co (DE) appear to have built a short-term bottom near technical support at its 200-dma. Today's bounce might be a new bullish entry point. Use a tight stop.
IBB - This is the iShares Biotech ETF and it just broke through resistance near $80.00 and its 200-dma.
EGN - Energen is a natural gas play. The stock looks poised to breakout higher from its two-week consolidation pattern.
ESI - ITT Education also looks ready to breakout from its consolidation. Consider an $80 target or the exponential 200-dma.
FSLR - This would be a very aggressive, higher-risk play but First Solar is bouncing from its trendline of higher lows. Considering buying calls now with a stop loss under this week's low.
DRYS & EXM - These are the shipping stocks and both of them look ready to bounce again. Shipping rates just went up again.
COF - Considering its exposure to consumer debt, Capital One would not be my first choice for bullish positions, but shares are bouncing from its trendline of higher lows.
TRA - Terra Industries and the rest of the fertilizer stocks are rebounding. TRA is close to breaking through its trendline of lower highs.
Valero Energy - VLO - close: 49.64 change: 0.26 stop: 47.99
Why We Like It:
BUY CALL JUL 47.50 VLO-GW open interest=1065 current ask $4.20
Picked on June 05 at $ 49.64