Editor's Note:

Bullish candidates were easy to find today. I wanted to provide a few extra symbols as possible trading ideas. Some of these candidates need to see a pull back while others need to see more of a bounce but they all appear to have potential. Here's the list: CRK, PRE, EQIX, SLB, FTI, APOL, ESI, VMC, RIG.


NEW DIRECTIONAL CALL PLAYS

Amazon.com - AMZN - close: 93.97 change: +3.06 stop: 87.99

Why We Like It:
If you can't beat them, join them.

The bounce in AMZN has been faster than expected. Shares of this online retailer are now challenging resistance at $94.50. A breakout here should lead to a move to $100 and beyond.

I'm suggesting a trigger to buy calls at $95.05. If triggered our first target to take profits is at $99.90. Our second target would be $104.95. I'd aim higher but we want to exit in front of the late October earnings report.

Suggested Options:
I am suggesting the November calls. My preference is the $100 strike.

BUY CALL NOV 100 QZN-KT open interest=5400 current ask $3.80

Annotated Chart:

Picked on   October xx at $ xx.xx <-- TRIGGER @ 95.05
Change since picked:       + 0.00
Earnings Date            10/22/09 (unconfirmed)
Average Daily Volume =        6.2 million  
Listed on   October 07, 2009         


AvalonBay - AVB - close: 71.20 change: +0.79 stop: 68.49

Why We Like It:
It's been a while since we've played anything in real estate. Shares of AVB are bouncing from their trendline of higher lows after a painful $11 correction. I want to see a little more confirmation. I'm suggesting readers buy calls at $72.60. If triggered our first target is $77.75. More aggressive traders could aim higher but we don't want to hold over the early November earnings report.

Suggested Options:
I am suggesting the November calls. My preference is the November 75s.

BUY CALL NOV 75.00 AVB-KO open interest=328  current ask $3.30

Annotated Chart:

Picked on   October xx at $ xx.xx <-- TRIGGER @ 72.60
Change since picked:       + 0.00
Earnings Date            11/04/09 (unconfirmed)
Average Daily Volume =        1.8 million  
Listed on   October 07, 2009         


EOG Resources - EOG - close: 84.71 change: +0.13 stop: 79.49

Why We Like It:
EOG is another oil stock that's in the process of breaking out. The Point & Figure chart says it has already broken out with a quadruple top breakout buy signal and a $96 price target.

I'm suggesting bullish positions now. Our first target is $89.90. Our second target is $94.75. I'm setting a third target at $99.50.

Suggested Options:
I'm suggesting the November calls but we'll plan to exit ahead of the early November earnings report. My preference is for the November $90 strike.

BUY CALL NOV 90.00 EOG-KR open interest= 495 current ask $2.70

Annotated Chart:

Picked on   October xx at $ xx.xx <-- see TRIGGER
Change since picked:       + 0.00
Earnings Date            11/03/09 (unconfirmed)
Average Daily Volume =        2.9 million  
Listed on   October 07, 2009