Wal-Mart (WMT) - Profiled bullish on 04/24. Stock continues to suffer fall out from yesterday's earnings, but broader Dow Industrial strength has buying coming back into stock. Current review has this stock as a laggard and PremierMarkets.com would suggest selling of profiled June 50 calls (WMTFJ) if common stock trades $53.50 or higher in next two days. Supply/demand still favorable, but we feel stock is now a laggard and WMT's plans to discontinue expansion in Europe has institutions less bullish the stock near-term. We feel this adversely affect a June option play and thus would look to remove it from our profiled section.
Barrick Gold (ABX) - Profiled bullish on 04/26. Stock remains in strong upward trend after testing upward trend yesterday at $17. PremierMarkets.com currently following ABX as a covered call when we suggested selling the June 17 call (ABXFW) when bid at $0.80 on 05/09. Our thought was that the stock had made a nice move from the profiled $16.05 level and that major short-term move had been realized. We continue to like the stock at current levels and will reassess covered call closer to expiration.
Du Pont (DD) - Profiled bullish on 05/01 shares of DD have not disappointed. Morgan Stanley Cyclical Index (CEX.X) broke through long-term downward trend today with robust move to upside and that looks to have institutions scampering for more exposure to deep cyclicals. PremierMarkets.com profiled the DD July 45 calls at $3.20 and currently bid $4.40. Our bullish target for underlying stock is generous at $59. Our feeling was that stock was at end of 9-month base building and similar technicals were found in April of 1999 right before stock jumped nearly 25% in 4- week time span. With the stock trading $48.21 currently, we maintain our bullish stance and feel that $59 is achievable before July expiration. As trade matures, we look to raise our stop from current level of $41.
Frontier (FRNT) - Profiled on 05/02 many subscribers felt our analysis was crazy to highlight an airline stock. Today at $15.71, shares of FRNT have pulled away from the terminal and now test the 200-day MA from underneath. We maintain a bullish stance of profiled August 15 calls from $2.10 and target before expiration remains $20 for the underlying security. Current stop is at $13.70 for stock and options.
Dynamic Materials (BOOM) - Profiled as an aggressive micro-cap opportunity on 05/09, shares of BOOM have faired well, but today's 3% decline is proof that this micro-cap is not on the radar screens of institutional investors. However, we understood this when originally profiled and continue to rate the stock attractive at current levels with a longer-term bullish price objective of $5. We thought only 1/4 position of a trader's normal trade size should be exposed here. Stop is at the 200-day MA at $1.50.
Halliburton (HAL) - Profiled as bullish on 05/15 PremierMarkets.com thought a bullish option player with a longer- term view would do well in the October $40 Calls when the stock broke above $44 and triggered a double-top buy signal. The current longer-term bullish price objective from the point/figure chart of $64 had what we felt a very favorable risk/reward trade for the longer-term. The bullish percent reading for this index is getting close to the "overbought" level, but we expect the rather large base recently built in shares of HAL to provide support near the $40 level. Current price objective for this stock at PremierMarkets.com is $60 with a stop at $38.50.
Qualcomm (QCOM) - Today, 5/16 Premiermarkets.com profiled a bullish trade in shares of QCOM if the stock were able to trade $63. Recent supply/demand characteristics had us believing that institutions aggressively took positions in the stock from $54- $66 and the recent consolidation between $56 and $62 was being used to round out longer-term positions. We wanted to wait for a break at $63 and a triple top buy signal to get long. We got that break today. Current bullish target at PremierMarkets.com is $78 and following with a stop at $54.75.