Additional Trading Ideas:
In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates.
ALTR, NTAP, PAYX, MSFT, EA, T, RYL, TOL, USB, DHI, ZION, SCHW, BAC,
SLXP, ELGX, FAST, CAH, KIRK,
NEW BULLISH Plays
Virgin Media, Inc. - VMED - close: 28.72 change: +1.01
Stop Loss: 27.25
Current Gain/Loss: unopened
Entry on September xx at $ xx.xx
Listed on September 06, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 2.5 million
New Positions: Yes, see below
Why We Like It:
VMED provides cable, broadband Internet, television, and telephone services in the United Kingdom. Shares have been consolidating sideways in the $27-28 range for weeks. Today's bullish breakout should signal the beginning of the next leg higher. VMED normally doesn't see big moves like this so I am expecting a little pullback first.
We want to launch bullish positions on a dip at $28.25. We'll use a stop at $27.25. Our multi-week target is $31.50. I suspect VMED could see more short covering since the most recent data listed short interest at 20% of the 256 million-share float.
FYI: The Point & Figure chart for VMED is bullish with a $41 target.
Buy-the-Dip Trigger @ $28.25
Suggested Position: buy VMED stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy the Oct $28 call (VMED1220j28) current ask $1.50