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:
KAR, IRBT, TMH, AVGO, CFN, KR, PGR, FITB, IPG, HCBK
NEW BULLISH Plays
Ocwen Financial - OCN - close: 41.27 change: +0.35
Stop Loss: 39.65
Current Gain/Loss: unopened
Entry on February -- at $--.--
Listed on February 6, 2013
Time Frame: Exit prior to earnings in late February
Average Daily Volume = 1.7 million
New Positions: Yes, see below
Why We Like It:
OCN is in the mortgage loan servicing industry. Shares have been showing relative strength and recently broke out past major resistance at the $40.00 mark. I am suggesting small bullish positions now at current levels. More nimble traders may want to consider waiting to buy a dip near the $40.50-40.00 zone as an alternative entry point.
This trade may only last a couple of weeks. We are planning to exit prior to earnings, which are expected in late February. There is no date yet.
Suggested Position: buy OCN stock @ (the open)