Editor's Note:

The major indices rallied toward their recent highs and bullish candidates are pretty common. I'm providing a list of stocks that are currently on my watch list. Keep in mind I haven't looked up their earnings dates yet and would not want to hold over any earnings announcements.

Stocks that look interesting: CTSH, CTXS, CVX, COP, BAX, JNJ, GD, and DVN.


NEW DIRECTIONAL CALL PLAYS

Joyg Global - JOYG - close: 59.93 change: +1.48 stop: 57.75

Why We Like It:
Commodity stocks were on the move again in spite of strength in the U.S. dollar. Shares of JOYG look poised to continue their run higher after consolidating sideways (albeit in a volatile manner) the last several days. More aggressive traders may want to consider bullish positions now. I want to see a little more confirmation so I'm suggesting a trigger to buy calls at $61.51. If triggered our first target to take profits is at $64.95. Our second target is $69.00. FYI: The Point & Figure chart's long-term target is $79.00. We do not want to hold over the early March earnings report.

Suggested Options:
Traders could use the February or April calls (I don't see any open interest in March calls). My preference is the April $65 strike.

BUY CALL APR 65.00 JQY-DM open interest=3,402 current ask $2.90

Annotated Chart:

Entry  on   January xx at $ xx.xx <-- TRIGGER @ 61.51
Change since picked:       + 0.00
Earnings Date            03/03/10 (unconfirmed)
Average Daily Volume =        2.8 million  
Listed on   January 19, 2010