If you're feeling bullish some of the big financial stocks still look strong.
Goldman Sachs (GS) could be a short-term buy if the stock breaks out past $165.00.
However, I will point out that as of tonight, the Japanese market looks poised to open sharply lower in reaction to a bounce in the yen. If Japan sees another big drop tomorrow it could put pressure on the U.S. markets.
NEW DIRECTIONAL PUT PLAYS
Susser Holdings - SUSS - close: 49.18 change: -1.85
Stop Loss: 51.05
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below
Why We Like It:
SUSS runs a chain of convenience stores.
The stock broke its up trend after it reported earnings on May 8th. Since then traders have been selling the rallies. The stock underperformed the market today and looks poised to break down under support near $48.85.
We are suggesting a trigger to buy puts at $48.75. If triggered our target is $45.25.
FYI: The Point & Figure chart for SUSS is bearish with a $41 target.
Trigger @ 48.75
- Suggested Positions -
buy the Jun $50 PUT (SUSS1322R50) current ask $2.25
Entry on May -- at $---.--
Average Daily Volume = 369 thousand
Listed on May 29 2013