Growth Stocks

ARD @ $46.87 (Arena Resources) is engaged in the exploration and production of oil and natural gas properties in Oklahoma, Texas, Kansas and New Mexico. Revenues have increased between 47% and 113% during the last four quarters. Earnings are expected to grow 56% this year and another 41% in 2009 to $2.42 a share. A breakout above a triple top has us establishing half a position here and buy the remaining half on a pull back to $42. Our stop loss will be set at $39.75.

IPO's and New Issues

HOO @ $14.30 (Cascal) is a Dutch provider of water and wastewater services to homes and businesses in eight countries. Earnings are expected to grow 63% this year and another 55% in 2009. They came public in January at $12 and recently emerged from its first tradable base with a move above $12.50. We are establishing half a position here and will enter the remaining half on a pull back to $13. Our stop loss will be set at the IPO price of $12.

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