In addition to tonight's new candidate, consider these stocks as possible trading ideas:
EOG - a rally past $107.50 could be a bullish entry point.
SLB - a rise past the simple 200-dma could be a bullish entry point.
SPW - shares look like a bullish candidate right now.
LULU - consider waiting for LULU to rally past its 2011 highs near $64.50 as a bullish entry point.
MLM - this stock actually looks like a bullish candidate right here.
NEW DIRECTIONAL CALL PLAYS
Express Scripts, Inc. - ESRX - close: 52.48 change: +0.76
Stop Loss: 49.95
Current Option Gain/Loss: Unopened
Time Frame: exit prior to February earnings
New Positions: Yes, see below
Why We Like It:
If the market rally continues I expect ESRX to outperform. Eventually this stock is going to see more short covering. The most recent data listed short interest at almost 17% of the 482 million-share float. The recent breakout past resistance near $52.00 is bullish.
I am suggesting new positions at the open tomorrow but only if both ESRX and the S&P 500 are positive. We'll use a stop loss at $49.95.
FYI: The Point & Figure chart for ESRX is bullish with a $75 target.
Do not enter position unless ESRX and the S&P500 are both positive at the open
- Suggested Positions -
buy the Feb $52.50 call (ESRX1218B52.5) current ask $2.00
Entry on January xx at $ xx.xx
Earnings Date 02/16/12 (unconfirmed)
Average Daily Volume = 6.6 million
Listed on January 25, 2012