In addition to tonight's new candidate, consider these stocks as possible trading ideas and watch list candidates. Many of these need to see a break past key support or resistance:
TM, SLG, LO, RE, RRC, ESRX, CBRL, HSIC, CHTR
CXO, AYI, WBC, FFIV
NEW DIRECTIONAL CALL PLAYS
McKesson Corp. - MCK - close: 93.27 change: +0.96
Stop Loss: 91.45
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
According to their website, " As a pharmaceutical distributor and health care information technology company, McKesson provides systems for medical supply management, clinical workflow, practice management, pharmacy automation and care management."
The stock's bullish trend of higher lows has pushed MCK back toward the ten-year highs set a week ago. A breakout here could herald a run toward the $100 area.
I am suggesting a trigger to buy calls at $93.55. We'll use a stop loss at $91.45, just under today's low. Our exit target is $99.00.
Trigger @ 93.55
- Suggested Positions -
buy the Jul $92.50 call (MCK1221G92.5) current ask $1.90
- or -
buy the Aug $95 call (MCK1218H95) current ask $1.80
Entry on June xx at $ xx.xx
Earnings Date 07/30/12 (unconfirmed)
Average Daily Volume = 1.6 million
Listed on June 28, 2012