Editor's Note:

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

(bullish ideas) SLG, KSU, CERN, BRK.B

(bearish ideas) BAP, ESV, DB, PLCE, ARLP, BHI


NEW DIRECTIONAL CALL PLAYS

Amgen Inc. - AMGN - close: 70.70 change: +1.09

Stop Loss: 68.95
Target(s): 74.90
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Biotech giant AMGN was showing relative strength today. The stock has been consolidating in a bull-flag pattern. Shares look ready to breakout from this consolidation soon. I am suggesting small bullish positions if AMGN can trade at $71.25. We'll use a stop at $68.95. Our target is $74.90. More aggressive traders could aim higher.

Trigger @ $71.25 (small positions)

- Suggested Positions -

buy the Jun $70 call (AMGN1216F70) current ask $1.88

Annotated Chart:

Entry on May xx at $ xx.xx
Earnings Date 07/26/12 (unconfirmed)
Average Daily Volume = 3.9 million
Listed on May 08, 2012