Editor's Note:

Additional Trading Ideas:

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:

(bearish ideas) NTAP, HNT, PAY, ZBRA


Carrizo Oil & Gas - CRZO - close: 24.86 change: -0.59

Stop Loss: 25.85
Target(s): 20.50
Current Gain/Loss: unopened

Entry on October xx at $ xx.xx
Listed on October 24, 2012
Time Frame: exit prior to earnings on Nov. 6th,
Average Daily Volume = 624 thousand
New Positions: Yes, see below

Company Description

Why We Like It:
CRZO is a Texas-based oil and gas company. The stock recent rally attempts have both reversed. Now shares look poised to breakdown under support in the $24.50 area.

I am suggesting small bearish positions if CRZO can trade at $24.35 or lower. If triggered our target is $20.50. However, I will admit that is a bit optimistic. We do not want to hold over the early November earnings report and will plan on exiting prior to the announcement that is expected on Nov. 6th (still an unconfirmed date).

I mentioned that we want to limit our position size and that's because CRZO already has a sizeable short interest at 18% of its small 36 million share float.

Trigger @ 24.35

Suggested Position: short CRZO stock @ (trigger)

Annotated chart: