- New Trades -


Acme Packet - APKT - close: 22.95

Comments:
01/12/13: We recently added APKT to our watch list with plans to buy a dip at $22.50. Well shares dipped down to $22.53 on Friday before bouncing back. That's close enough for me. I am suggesting we go ahead and buy calls on Monday morning. We'll start with a stop loss at $19.75. More conservative traders may want to consider a stop closer to the $21 level instead.

Our long-term target is $34.00. I do expect the $30.00 level to offer significant resistance. FYI: The Point & Figure chart is bullish and forecasting a long-term target of $41.

NOTE: APKT is scheduled to report earnings on February 4th. More conservative traders may want to wait until after we see how the market reacts to this earnings report before launching new bullish positions.

- Suggested Positions -
JAN 14, 2013 - entry price on APKT @ --.--, option @ -.--
symbol:APKT1418a30 2014 JAN $30 call - current bid/ask $ 2.30/2.70

01/12/13 plan on opening positions on Monday morning (Jan 14th)

Chart of APKT:

Current Target:$ 34.00
Current Stop loss: 19.75
Play Entered on: 01/14/13
Originally listed on the Watch List: 01/05/13


Chevron Corp. - CVX - close: 111.73

Comments:
01/12/13: CVX was a watch list candidate. The plan was to wait for shares to breakout past resistance near $111.00 and its 100-dma and then buy calls after CVX had closed above $111.50. The stock met those entry requirements on Friday with a +1.1% gain and a close above $111.50.

Shares look poised to run and I am expecting CVX to challenge the 2012 highs near $118.50. Yet our long-term target is $124.50.

NOTE: CVX is scheduled to report earnings on February 1st. More conservative traders may want to wait until after we see how the market reacts to this earnings report before launching new bullish positions.

- Suggested Positions -
JAN 14, 2013 - entry price on CVX @ --.--, option @ -.--
symbol: CVX1418a120 2014 JAN $120 call - current bid/ask $ 3.25/3.40

Chart of CVX:

Current Target:$124.50
Current Stop loss: 104.75
Play Entered on: 01/14/13
Originally listed on the Watch List: 12/22/12