Editor's Note:

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

(bullish ideas)
NBL, ROK, M, KLAC, GRMN, ATK, LLL

(bearish ideas)
SINA, SBAC, TWTR,



NEW DIRECTIONAL CALL PLAYS

Phillips 66 - PSX - close: 80.60 change: +1.36

Stop Loss: 78.70
Target(s): to be determined
Current Option Gain/Loss: Unopened
Time Frame: Exit PRIOR to earnings on April 30th
New Positions: Yes, see below

Company Description

Why We Like It:
PSX is in the basic materials sector. The company business is divided between four segments: chemicals, refining, midstream, and marketing. The stock has been showing some relative strength and just broke out past resistance near $80.00 to close at all-time highs.

We'd like to see a little more follow through. Today's intraday high as $80.91. I'm suggesting a trigger to buy calls at $81.10. We're not setting an exit target yet but plan on exiting prior to PSX's earnings report on April 30th.

FYI: The Point & Figure chart for PSX is bullish with a $97 target.

Trigger @ 81.10

- Suggested Positions -

Buy the May $80 call (PSX1417E80) current ask $3.10

Annotated Chart:

Weekly Chart:

Entry on April -- at $---.--
Average Daily Volume = 3.1 million
Listed on April 03, 2014