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New Watch List Plays Triggered
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ATI $24.27 - Allegheny Technologies

Monday's massive market spike produced a breakout entry at $26 and fortunately the dive late in the week was quickly bought. Decent support at $20.

Earnings scheduled for 10/22

Company Info:

Allegheny Technologies Incorporated (ATI) is a diversified specialty metals producer. The Companys products include titanium and titanium alloys, nickel-based alloys and superalloys, zirconium, hafnium and niobium, stainless and specialty steel alloys, grain-oriented electrical steel, tungsten-based materials and cutting tools, carbon alloy impression die forgings, and grey and ductile iron castings. ATIs specialty metals are produced in a range of alloys and product forms, and are selected for use in environments that demand metals having hardness, toughness, strength, resistance to heat, corrosion or abrasion, or a combination of these characteristics. The Company focuses its technological and unsurpassed manufacturing capabilities to serve global end use markets with diversified and specialized product offerings. It operates in three business segments: High Performance Metals Segment, Flat-Rolled Products Segment and Engineered Products Segment.

Breakout trigger: $26, hit 10/13

Position: 2010 $40 LEAP Call YFQ-AW @ $3.60

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FWLT - Foster Wheeler

FWLT still trying to form a bottom at $25 and long-term support.

Earnings schedule: Nov 5th

Company Info:

Foster Wheeler Limited operates through two business groups, the Global Engineering & Construction Group (Global E&C Group) and the Global Power Group. The Global E&C Group, which operates globally, designs, engineers and constructs onshore and offshore upstream oil and gas processing facilities, natural gas liquefaction facilities and receiving terminals, gas-to-liquids facilities, oil refining, chemical and petrochemical, pharmaceutical and biotechnology facilities and related infrastructure, including power generation and distribution facilities, and gasification facilities. The Global Power Group designs, manufactures and erects steam generating and auxiliary equipment for electric power generating stations and industrial facilities globally. In February 2008, the Company completed the acquisition of Biokinetics. On April 7, 2006, the Company completed the purchase of the remaining 51% interest in MF Power.

Breakout trigger: $31, hit 10/13

Position: 2010 $40 LEAP Call LWM-AH @ $8.00

 

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