In addition to tonight's new play these stocks caught my eye and might offer an opportunity. Check them out:
BBY is on the verge of breaking out past resistance.
IP a rally past $29.50 might be a bullish entry point.
QGEN is also on the verge of breaking out past overhead resistance.
NEW BULLISH Plays
Expedia Inc. - EXPE - close: 28.92 change: +0.82
Stop Loss: 27.90
Current Gain/Loss: unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
EXPE could see a short squeeze.
The most recent data listed short interest at 10% of the 187-million share float. Today's show of relative strength (+2.9%) is also a breakout past resistance at its 100-dma. EXPE is also breaking the trend of lower highs.
I am suggesting we open small bullish positions at the open tomorrow morning but only if both EXPE and the S&P 500 index open positive. We'll use a relatively tight stop loss at $27.90. Our target is $32.00.
*See Entry Details Above*
Suggested Position: buy EXPE stock @ the open
- or -
buy the 2012Jan $30 call (EXPE1221A30) ask $0.90
Entry on December xx at $ xx.xx
Earnings Date 02/09/12 (unconfirmed)
Average Daily Volume = 3.7 million
Listed on December 05, 2011