Editor's Note:

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

(bullish ideas) BCR, SNP, RIO, IDXX, PM, XOM, RTN, ROP, IHS, NKE, CPA, ASML, and TSCO


NEW DIRECTIONAL CALL PLAYS

Praxair Inc. - PX - close: 116.19 change: +0.49

Stop Loss: 113.90
Target(s): 124.50
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
PX is a basic materials name that deals in industrial gases and coatings. The stock has a long-term bullish trend of higher lows and higher highs. Just recently shares have broken out past resistance near $115.00.

I am suggesting a trigger to buy calls at $117.25. We'll start this trade with a stop loss at $113.90 although more conservative traders may want to use a stop closer to $115.00 instead. The $120 level is potential round-number resistance but we are aiming for $124.50. FYI: The Point & Figure chart is bullish with a $145 target.

Trigger @ $117.25

- Suggested Positions -

buy the May $115 call (PX1219E115) current ask $2.30

- or -

buy the Jun $120 call (PX1216F120) current ask $0.90

Annotated Chart:

Entry on May xx at $ xx.xx
Earnings Date 07/25/12 (unconfirmed)
Average Daily Volume = 1.1 million
Listed on May 01, 2012