Editor's Note:

In addition to tonight's new candidate(s), consider these stocks as possible trading ideas and watch list candidates. Some of these stocks may need to see a break past key support or resistance:

(bullish ideas) OII, CELG, NBL, SWM, DSW

(bearish ideas) PSX, RTN, VMW, SOHU, TRIP,


Marathon Petroleum - MPC - close: 69.29 change: -1.09

Stop Loss: 72.25
Target(s): 62.00
Current Option Gain/Loss: Unopened
Time Frame: 3 to 4 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Oil refining stocks have been underperforming. Shares of MPC collapsed to technical support at the 200-dma near $70 two weeks ago. Since then the oversold bounce has reversed at the $74.00 level. Now MPC is breaking down through support at $70 and its 200-dma.

More aggressive traders may want to jump in now and buy puts. We are suggesting a trigger to buy puts at $68.25, which is just below today's low. If triggered our target is $62.00.

Trigger @ 68.25

- Suggested Positions -

Buy the Aug $65 PUT (MPC1317T65) current ask $1.95

Annotated Chart:

Entry on July -- at $---.--
Average Daily Volume = 3.2 million
Listed on July 02, 2013