Editor's Note:

Bullish candidates were plentiful tonight. These stocks caught my eye and might offer some opportunity. A few of them may need to breakthrough resistance first:

AZO, GWW, CTSH, BIIB, ROK, PPG, SWK, HUM, FAST, and AON

- James


NEW DIRECTIONAL CALL PLAYS

Praxair Inc. - PX - close: 100.92 change: +1.47

Stop Loss: 97.40
Target(s): 104.75, 109.00
Current Option Gain/Loss: +0.0%
Time Frame: 4 to 5 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Many of the industrial and basic material names were showing strength today. PX did not see any follow through on the potentially bearish reversal pattern and in stead rallied off a test of the $99.00 level. Today's close over round-number and psychological resistance at the $100.00 is bullish. This looks like a new all-time high for PX so the sky's the limit.

I am suggesting bullish call positions now. Our first target to take profits is at $104.75. Our second and final target is $109.00. We will plan to exit ahead of the late April earnings report.

Open bullish positions now, above $100

- Suggested Positions -

Buy the May $100 call (PX1121E100) current ask $3.60

- or -

Buy the May $105 call (PX1121E105) current ask $1.20

Annotated Chart:

Entry on March 30th at $ xx.xx
Earnings Date 04/27/11 (unconfirmed)
Average Daily Volume = 1.4 million
Listed on March 29th, 2011


Stericycle Inc. - SRCL - close: 88.30 change: +0.61

Stop Loss: 84.90
Target(s): 93.50, 98.50
Current Option Gain/Loss: + 0.0%
Time Frame: 4 to 5 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
I have mentioned SRCL in my editor's note before. The company is in the regulated waste management business. Shares have been consolidating sideways in a trading range for weeks. In just the last few days SRCL seems to be breaking out of that trading range. I am suggesting bullish positions now following today's intraday bounce from the $87 area.

We'll start the play with a stop at $84.90 but more conservative traders might want to consider a tighter stop loss. Our targets are the $93.50 and $98.50 levels but we will plan to exit ahead of the late April earnings report.

Open bullish positions now

- Suggested Positions -

Buy the May $90 calls (SRCL1121E90) current ask $2.35

Annotated Chart:

Entry on March 30th at $ xx.xx
Earnings Date 04/28/11 (unconfirmed)
Average Daily Volume = 479 thousand
Listed on March 29th, 2011