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:
MTB, JLL, EOG, TWC, HOG, PNR, LYB, DISCA, SBUX, HSIC, RAX, VAR, GWR, RS
NEW DIRECTIONAL CALL PLAYS
Vulcan Materials - VMC - close: 52.71 change: +1.11
Stop Loss: 50.85
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below
Why We Like It:
VMC is in the building materials industry.
The stock broke out past major resistance near $50.00 in late November. Since then VMC has been digesting gains and consolidating sideways. Today's show of relative strength (+2.1%) could be the beginning of the next leg higher.
I am suggesting a trigger to buy calls at $53.00 with a stop loss at $50.85. Our target is $58.50. The $60.00 level looks like resistance.
FYI: The Point & Figure chart for VMC is bullish with a long-term $70 target.
Trigger @ 53.00
- Suggested Positions -
buy the 2013 Jan $55 call (VMC1319a55) current ask $1.05
Entry on December xx at $ xx.xx
Average Daily Volume = 870 thousand
Listed on December 17, 2012