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. Some of these may need to see a break past key support or resistance:

(bullish ideas) FNSR, ACAT, STX

(bearish ideas) SLV, GDX


Puma Biotechnology - PBYI - close: 40.01 change: +1.14

Stop Loss: 38.90
Target(s): 44.75
Current Gain/Loss: unopened

Entry on June -- at $--.--
Listed on June 19, 2013
Time Frame: 6 to 8 weeks
Average Daily Volume = 194 thousand
New Positions: Yes, see below

Company Description

Why We Like It:
PBYI is a biotech firm focused on cancer treatments. The stock has been showing relative strength, especially today. Shares are on the verge of a bullish breakout past resistance at $40.00.

Today's high was $40.49. I am suggesting a trigger to launch bullish positions at $40.60. We do want to keep our position size small. Biotech stocks can be dangerous. The wrong headline with disappointing news about a drug trials or something similar can send a biotech stock gapping lower.

If triggered at $40.60 we'll use a stop loss at $38.90. Our target is $44.75.

Trigger @ 40.60 *Small Positions*

Suggested Position: buy PBYI stock @ (trigger)

Annotated chart: