Editor's Note:

In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates:

bullish candidates: CSTR, UHS, FISV, GD, NKE, ORLY, and PCAR


NEW DIRECTIONAL CALL PLAYS

Alexion Pharma. - ALXN - close: 84.85 change: +1.09

Stop Loss: 81.75
Target(s): 89.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
This biotech stock continues to channel higher. Shares just bounced near the bottom of its rising channel and short-term support near $82.00. We want to buy calls if both ALXN and the S&P 500 index open positive tomorrow morning. We'll use a stop loss at $81.75. Our target is $89.50. FYI: The Point & Figure chart for ALXN is bullish with a $91 target.

We want to keep our position size small to limit our risk.

Do not enter position unless ALXN and the S&P 500 are both positive at the open

- Suggested (SMALL) Positions -

buy the Apr $85 call (ALXN1221D85) current ask $4.10

- or -

buy the Apr $90 call (AXLN1221D90) current ask $2.05

Annotated Chart:

Entry on February xx at $ xx.xx
Earnings Date 04/23/12 (unconfirmed)
Average Daily Volume = 1.3 million
Listed on February 28, 2012