Editor's Note:

In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:

(bullish ideas) R, MPC, PII, AGN, FLR, MSM, CB, BAX, CREE, VRSK, FCFS, ICE, CVX, UTX, BDX, ACT, JBHT, OMC, DECK

Investors may want to check out shares of Apple Inc. (AAPL). The stock might have found a bottom. This past week traders were buying the dips near the $450 level. Friday's show of relative strength in AAPL pushed the stock above technical resistance at its simple 50-dma. After a six-month decline from its September highs, AAPL is oversold enough to see a significant rebound. The $500 level could be round-number, psychological resistance but I would not be surprised to see AAPL rally near the $525 area. Trying to place your stop loss on a high-dollar stock like AAPL can always be a challenge. I'd probably put my stop in the $447-445 area.

So if we're bullish on AAPL, why are we not listing it on the newsletter? This is probably a multi-week or possibly a multi-month trade. We looked at out of the money June or July calls but they appear to be way too expensive. Few traders are excited to pay $10 or $20 for an out of the money option.



NEW DIRECTIONAL CALL PLAYS

Ingredion Inc. - INGR - close: 70.47 change: +0.94

Stop Loss: 68.45
Target(s): 74.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
INGR is in the consumer goods sector. The company makes starch and sweeteners for ingredients in other products. The stock has continued to show relative strength with a weekly gain and a rally toward its highs set in January of this year. Shares are sitting just below resistance at the $70.50 level.

I am suggesting a trigger to buy calls at $70.65. If triggered our short-term target is $74.75. More aggressive traders could aim higher. FYI: The Point & Figure chart for INGR is bullish with an $83 target.

NOTE: INGR has a 38 cent dividend payable on April 25th to shareholders on record as of April 1st.

Trigger @ 70.65

- Suggested Positions -

buy the Apr $70 call (INGR1320D70) current ask $1.60

Annotated Chart:

Entry on March -- at $---.--
Average Daily Volume = 585 thousand
Listed on March 23, 2012


Noble Energy - NBL - close: 114.16 change: +1.16

Stop Loss: 113.25
Target(s): 119.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Cyprus has been getting a lot of press lately with the country's financial turmoil. If they can solve it without completely crashing their banking system, then NBL could benefit. It was recently announced that NBL discovered a significant natural gas field near Cyprus' southern coast. Now we are not playing NBL because of the Cyprus field but worries over Cyprus could be holding NBL back. If the Cyprus cloud clears up then NBL could accelerate higher.

NBL's stock trend is higher and this past week merely looks like a normal bout of profit taking. Traders bought the dip on Thursday, intraday, and now NBL looks poised to bounce. I am suggesting a trigger to buy calls at $115.25. If triggered our target is $119.75. More aggressive traders could aim higher.

Trigger @ 115.25

- Suggested Positions -

buy the May $120 call (NBL1318E120) current ask $1.45

Annotated Chart:

Entry on March -- at $---.--
Average Daily Volume = 1.0 million
Listed on March 23, 2012