The major indices rallied toward their recent highs and bullish candidates are pretty common. I'm providing a list of stocks that are currently on my watch list. Keep in mind I haven't looked up their earnings dates yet and would not want to hold over any earnings announcements.
Stocks that look interesting: AKAM, COF, DOW, HPQ, MS, QCOM, TGT, SLE & WCRX.
NEW BULLISH Plays
ParkerVision Inc. - PRKR - close: 2.01 change: +0.10 stop: 1.79
Why We Like It:
PRKR is a semiconductor company, based in Florida, that specializes in radio frequency (RF) technologies. The stock broke out over resistance a few days ago and traders have been buying the dip near its 50-dma (and the $1.85 level). Today's bounce looks like a new bullish entry point to hop on board. I do consider this an aggressive trade. The stock has clearly been under performing the market over the last few months and trading has been somewhat volatile. I suspect that PRKR could see a short squeeze. The most recent data listed short interest at more than 16% of the very small 28 million-share float.
We want to keep positions small to limit our risk. I am suggesting bullish positions now. Our first target to take profits is at $2.45. Our second target is $2.75. We do not want to hold over the mid March earnings report.
Entry on January 19 at $ 2.01 (small positions)
Change since picked: + 0.00
Earnings Date 03/15/10 (unconfirmed)
Average Daily Volume: 183 thousand
Listed on January 19, 2009