Closed Plays


JOYG - Hit our target at $48.50


Play Updates


ACGY $11.61 +0.30 -- Acergy S.A.

The rebound from its September lows has carried ACGY past resistance and to new highs for the year. A normal correction would bring the stock back toward $11.00 before continuing higher. More conservative traders may want to use a tighter stop loss.

I'm not suggesting new LEAPS positions at this time. Our plan is to exit in the $14.50-15.00 zone.

April 25th, 2009 - entry price on ACGY @ 7.61, option @ 1.05
symbol: QLS-AB, 2010 JAN $10 LEAP call - current bid/ask $2.20/2.50
-stop loss on ACGY @ 7.60

Chart of ACGY


ACI $22.52 -0.41 -- Arch Coal Inc.

The rally really accelerated last week with ACI surging to $24.00 a share. The stock now looks a little overbought. I would expect a dip back toward $20.00, which as broken resistance should be new support. lease note our new stop loss at $15.95.

Our long-term target is the $30 region. If you do launch new positions I would buy the 2010 January $20 calls or 2011 January $25 calls rather than the ones originally listed below.

May 14th, 2009 - entry price on ACI @ 16.00, option @ 1.30
symbol: ACI-AE, 2010 JAN $25 LEAP call - current bid/ask $1.75/1.85
-stop loss on ACI @ 15.95

-or-

May 14th, 2009 - entry price on ACI @ 16.00, option @ 2.40
symbol: OSE-AF, 2011 JAN $30 LEAP call - current bid/ask $2.90/3.30
-stop loss on ACI @ 15.95

Chart of ACI:


ANR $37.95 -0.61 - Alpha Natural Resources, Inc.

The rally in ANR tested resistance at $40.00. On a correction I would look for a dip toward $35.00 or the 50-dma.

We still have a trigger at $30.50 to buy the second half of our LEAPS position but that may not happen. I'll be on the lookout for another entry point to add to positions. Our long-term target is the $45.00-50.00 zone.

Aug. 25th, 2009 - entry price on ANR @ 34.00, option @ 5.10
symbol: ANR-AG, 2010 JAN $35 LEAP call - current bid/ask $6.60/7.00
-stop loss on ANR @ 29.50
bought 1/2 LEAP position on 08/25/09 (option price @ 5.10)
plan to buy 2nd half when ANR hits $30.50.

-or-

Aug. 25th, 2009 - entry price on ANR @ 34.00, option @ 7.00
symbol: VJV-AH, 2011 JAN $40 LEAP call - current bid/ask $9.10/9.70
-stop loss on ANR @ 29.50
bought 1/2 LEAP position on 08/25/09 (option price @ 7.00)
plan to buy 2nd half when ANR hits $30.50.

Chart of ANR:


BAC $17.63 +0.02 - Bank of America Corp.

BAC and many of the financials had been lagging the market for the first two weeks of September. BAC produced a decent bounce from last Monday's low but shares are still under their August highs. There is a growing chance for some profit taking in the market and BAC could retest $16.00 or lower.

More conservative traders may want to take some money off the table now and scale back in on a dip. However, I want to remind readers that this is a long-term, two-year trade. Our exit target is the $30-40 zone.

Please note I'm raising the stop loss to $9.75. I strongly suggest that more conservative traders consider a higher stop.

Jan 25th, 2009 - entry price on BAC @ 6.24, option @ 2.38
symbol: VBA-AB, JAN 2011 $10 LEAP call - current bid/ask $8.70/8.90
-stop loss on BAC @ 9.75

Chart of BAC


BG $62.50 -0.80 -- Bunge Limited

Bunge has pulled back to its long-term trendline of support and its 100-dma and exponential 200-dma. This should be significant support. What concerns me is that BG is sliding lower while the rest of the market is making new highs. Our LEAPS play was triggered at $63.00 (on Tuesday) and BG tagged $63.00 again on Thursday and Friday. While this pull back is an entry point readers may be better off waiting for signs of a bounce to open positions. A bounce over $65.00 or the 30-dma could work.

Our target is the $85-90 zone. We have a tight stop loss at $57.49.

Sep 15th, 2009 - entry price on BG @ 63.00, option @ 5.90
symbol: BGW-DN, 2010 APR $70 LEAP call - current bid/ask $4.70/4.90
-stop loss on BG @ 57.49

Chart of BG:


CLF $33.75 -0.46 -- Cliffs Natural Resources Inc.

The metal stocks exploded higher last week and CLF soared to new 2009 highs. I am not suggesting new positions at this time but watch for a bounce in the $30-28 zone. Our long-term target is the $40.00-45.00 zone. More aggressive traders may want to aim for $50. Readers might also want to consider the 2011 January LEAPS instead.

Sept. 5th, 2009 - entry price on CLF @ 26.19, option @ 4.84
symbol: CLF-AE, 2010 JAN $25 LEAP call - current bid/ask $10.00/10.20
-stop loss on CLF @ 22.24 (FYI: Gap open entry)

Chart of CLF:


CNX $46.68 +0.31 -- Consol Energy Inc.

Target achieved! The coal stocks have also performed very well in September. This stock looks short-term overbought and due for a correction. Look for short-term support near $42.00 or $40.00. I am raising our stop loss to $34.75.

Our first target to take profits was at $48.50. CNX hit $48.95 on September 16th. The 2010 January $35 call traded at $14.50. The 2011 January $40 call was at $15.40.

We will plan to sell the second half or our position at $57.50.

Sep 1st, 2009 - entry price on CNX @ 36.50, option @ 5.75
symbol: CNX-AG, 2010 JAN $35 LEAP call - current bid/ask $13.00/13.20
-stop loss on CNX @ 34.75

Target hit 09/16/09 @ 48.50, option price $14.50 (+152%)

-or-

Sep 1st, 2009 - entry price on CNX @ 36.50, option @ 7.80(estimate)
symbol: VTL-AH, 2011 JAN $40 LEAP call - current bid/ask $14.20/14.50
-stop loss on CNX @ 34.75

Target hit 09/16/09 @ 48.50, option price $15.40 (+97%)

Chart of CNX


CRS $25.10 -0.29 -- Carpenter Technology Corp.

CRS is another high-flying metal stock. Shares traded over $26.00 midweek. The stock looks overbought and due for a pull back. I would consider new call positions on a dip in the $21.00-20.00 zone. Our long-term target is the $35.00-40.00 zone.

Sep 1st, 2009 - entry price on CRS @ 20.50, option @ 3.10
symbol: CRS-CD, 2010 MAR $20 LEAP call - current bid/ask $6.40/6.60
-stop loss on CRS @ 17.50

Chart of CRS:


DISH $18.09 +0.21 -- Dish Network Corp.

I still believe the consumer cocooning trade is alive and well. Our long-term target is the $25.00-30.00 zone.

August 22nd, 2009 - entry price on DISH @ 17.18, option @ $3.20
symbol: HSW-AC, 2010 JAN $15 call - current bid/ask $3.80/4.00
-stop loss on DISH @ 15.45.

Chart of DISH:


DO $93.99 -1.37 -- Diamond Offshore

We will have to play close attention to the U.S. dollar-oil relationship. The dollar looks like it wants to bounce from its 2009 lows. If the dollar does bounce then crude oil will mostly likely fall and that will put pressure on the oil and oil service stocks. I would still be tempted to buy dips near $90.00. We have a stop loss at $79.45 but more conservative traders may want to use a stop closer to $85 or its rising 100-dma.

Our first target is $109.00. We can expect resistance about every $5.00 at $95, $100, etc. Readers might want to consider the 2011 January calls if you're launching new positions.

FYI: New January 2010 options have been added with the normal DO- root symbol. If you're going to buy new option positions I'd use these new symbols. The new 2010 January $90 call is DO-AA. The new 2010 January $100 call is DO-AC.

If you're curious about the KWJ- root symbol the CBOE created them back in February 2009 to account for DO's special cash dividend in March 2009. There was another special cash dividend in July 2009 and the KWJ series now represents 100 shares of DO plus $562.50 in cash.

Sep 2nd, 2009 - entry price on DO @ 86.50, option @ 12.30
symbol: KWJ-AR, 2010 JAN $90 LEAP call - current bid/ask $13.70/14.00
-stop loss on DO @ 79.45

-or-

Sep 2nd, 2009 - entry price on DO @ 86.50, option @ 5.20
symbol: KWJ-AT, 2010 JAN $100 LEAP call - current bid/ask $7.80/8.10
-stop loss on DO @ 79.45

Chart of DO:


EMR $41.12 -0.12 -- Emerson Electric Co.

EMR has extended its gains. Now the stock looks a little overbought and due for a dip. I would still consider new bullish positions on a dip in the $38.00-37.00 region. EMR doesn't move super fast so I'm listing the 2011 LEAPS.

Sept. 8th, 2009 - entry price on EMR @ 38.00, option @ $4.50
symbol: VHH-AH, 2011 JAN $40 call - current bid/ask $5.80/6.10
-stop loss on EMR @ 33.50.

Chart of EMR:


FAS $86.99 -0.13 - Direxion Fincl.Bull 3x ETF

The strength in financials was enough to propel the FAS past the $90.00 mark. I've mentioned taking profits at $90.00 before. I would still consider doing so now. Short-term I believe the markets are overbought but the trend is up.

I am not suggesting new bullish positions in FAS at this time.

Previous Comments on FAS:
Currently we have sold one third of our position at $60.00 (pre-split price of $12.00) and we plan to sell another third at $120.00. Honestly, I'm thinking we may want to take profits at $90.00 but we'll make that decision when the FAS gets there. We'll re-evaluate our final target for the last third of our position as needed. FYI: On July 9th, 2009 the FAS performed a 1:5 reverse split.

FYI: The FAS is based off and moves with the Russell 1000 Financial Services index.

Our plan called for buying the ETF instead of the options.

Current position in the FAS = $2.64 entry (stop loss: 7.00)
post-split prices are: $13.20 entry (stop loss: 35.00)

Exit 1/3 position @ 60.00 (+354%) /pre-split: 12.00

Chart of FAS

Chart of RIFIN (Russell 1000 financial services)


FCX $70.14 -1.33 - Freeport McMoran

The rally in gold and copper has stalled and FCX is retreating from its highs near $73.00. Investors can take profits anywhere they'd like above $70.00. Our second and final target is $77.00. More conservative traders may want to use a stop closer to $55 or higher.

June 22nd, 2009 - entry price on FCX @ 46.00, option @ 6.00
symbol: FCX-AK, 2010 JAN $55 LEAP call - current bid/ask $17.70/17.75
-stop loss on FCX @ 49.95 *new*

09/05/09 - Take Profits (sell half) at $66.00, option @ 15.00 (+150%)

-or-

June 22nd, 2009 - entry price on FCX @ 46.00, option @ 10.00
symbol: OBQ-AL, 2011 JAN $60 LEAP call - current bid/ask $20.65/21.30
-stop loss on FCX @ 49.95 *new*

09/05/09 - Take Profits (sell half) at $66.00, option @ 18.50 (+85%)

Chart of FCX:


FSLR $156.15 + 5.07 -- First Solar

My, my, what a difference two or three weeks can make. FSLR has truly soared from $113 to over $155. Volume has been above average for most of the rally, which is bullish.

We're not suggesting new positions at this time. At the moment we're long the 2010 January $100 put and we have a covered call play that should be fine if FSLR stays above $100.

Covered Call position:

Long 100 shares of FSLR @ $128.00
Short 2010 $150 LEAPS Call LZL-AA @ $40.70
Profit if called is $40.70 in option premium + $22 in stock (+49%)

Put Spread position:

Long 2010 $100 LEAPS Put LQM-MT @ $32.90
Short 2010 $250 LEAPS Put LZL-MJ @ $135.70, net credit $103

- Update 08/15/09 -
Cover the 2010 $250 Put at $109.40. Keep the $100 put.

Currently the 2010 Jan. $100 put is worth (bid) $2.85.
If you're curious the 2010 Jan. $150 call is at $22.60.

Chart of FSLR


GT $17.08 +0.08 -- Goodyear Tire & Rubber Co.

GT spiked higher last Monday on news that the U.S. and China might start a trade war and the first product they're fighting over is tires. The U.S. is placing tariffs on incoming Chinese tires and that pushed GT toward its 2009 highs. The rally has reversed as investors take profits.

I'm not suggesting new LEAPS positions at these levels. We have two targets. The plan is to sell half at $22.75 and half at $26.75.

June 6th, 2009 - entry price on GT @ 12.94, option @ 2.20
symbol: GT-AC, 2010 $15 LEAP call - current bid/ask $3.30/3.50
-stop loss on GT @ 11.90
-or-
June 6th, 2009 - entry price on GT @ 12.94, option @ 2.65
symbol: VYR-AD, 2011 $20 LEAP call - current bid/ask $3.10/3.50
-stop loss on GT @ 11.90

Chart of GT:


HOS $27.54 +0.31 -- Hornbeck Offshore Services

HOS turned in a strong week with a surge to new two-month highs. The stock looks a little overbought given the rally from $22.00 in early September. I am upping our stop loss to $19.95. Our long-term target is $35.00.

June 27th, 2009 - entry price on HOS @ 21.20, option @ 4.90
symbol: HOS-AD, 2010 JAN $20 LEAP call - current bid/ask $7.80/8.40
-stop loss on HOS @ 19.95
-or-
June 27th, 2009 - entry price on HOS @ 21.20, option @ 2.70
symbol: HOS-AE, 2010 JAN $25 LEAP call - current bid/ask $4.30/4.70
-stop loss on HOS @ 19.95

Chart of HOS:


INTC $19.56 +0.15 -- Intel Corp.

INTC is still going nowhere fast. The stock has a three-week trend of lower highs, which is bearish. This relative weakness is a drag for all the major averages that INTC is a component. I'm not expecting a steep correction but we can't rule it out. INTC should find support near $18.00 and again at $17.00. I am not suggesting new long-term positions at this time. Our long-term target is the $24-26 zone.

FYI: Shares of Intel don't move very fast. Readers might want to consider turning this play into a calendar or diagonal spread to further maximize your gains.

June 13th, 2009 - entry price on INTC @ 16.31, option @ 1.36
symbol: VNL-AD, 2011 LEAP $20 call - current bid/ask $2.55/2.59
-stop loss on INTC @ 15.90.

Chart of INTC:


LNN $43.73 +0.06 -- Lindsay Corp.

LNN is still bouncing from its September lows but the rally stalled near $45.00 this week I'm expecting another dip toward $40.00. This time I would not buy the dip but wait for the bounce from $40.00.

We want to sell half our LEAPS position at $49.50 and half at $59.50.

August 7, 2009 - entry price on LNN @ 41.55, option @ 8.80
symbol: NRR-AG, 2010 JAN $35 LEAP call - current bid/ask $ 9.80/10.00
-stop loss on LNN @ 34.50
-or-
August 7, 2009 - entry price on LNN @ 41.55, option @ 6.00
symbol: NRR-AH, 2010 JAN $40 LEAP call - current bid/ask $6.60/7.20
-stop loss on LNN @ 34.50

Chart of LNN:


MDR $26.73 +0.20 - McDermott Intl. Inc.

MDR has been bouncing around the $26-28 zone for two weeks now. Shares look ready to retreat a bit. Look for support near the 30-dma or $24.00.

MDR is near the top of its bullish channel and more conservative traders may want to start taking profits right here! We want to sell 50% to 75% of our position at $29.75. We'll sell the remainder at $34.00. FYI: The Point & Figure chart has a $38 target.

April 4th, 2009 - entry price on MDR @ 15.56, option @ 2.70
symbol: MDR-AD, 2010 $20 LEAP call - current bid/ask $7.40/7.60
-stop loss on MDR @ 19.00

Chart of MDR:


MSFT $25.26 -0.04 -- Microsoft Corp.

MSFT is still slowly drifting higher. I'm not suggesting new long-term positions at this time.

This should be a long (18-month) trade. MSFT doesn't move that fast (normally). Investors might want to turn this into a calendar or diagonal spread, selling calls against your LEAPS position. My long-term target is the $30 region.

June 2nd, 2009 - entry price on MSFT @ 21.60, option @ 2.20
symbol: VMF-AE, 2011 Jan. $25 call - current bid/ask $3.35/3.50
-stop loss on MSFT @ 19.95.

Chart of MSFT:


MT $40.50 -0.20 -- ArcelorMittal

Thanks to big strength in the metal stocks MT rallied to over $42.00 this past week. The stock has begun to correct a bit. I'd look for a dip back toward the $37.50 zone if not $35.00. More conservative traders may want to raise their stops (near $32.50 or $34.50 could work). Our long-term target is the $50 region.

June 17th, 2009 - entry price on MT @ 30.50, option @ 2.70
symbol: MT-AH, JAN 2010 $40 call - current bid/ask $4.70/5.00
-stop loss on MT @ 29.50

-or-

June 17th, 2009 - entry price on MT @ 30.50, option @ 2.00
symbol: MT-AJ, JAN 2010 $50 call - current bid/ask $1.40/1.50
-stop loss on MT @ 29.50

Chart of MT:


NYX $30.29 +0.45 -- NYSE Euronext

A week ago NYX looked like it was ready to breakdown. This past week the stock displayed impressive relative strength and has rallied past round-number resistance at $30.00. I'm not suggesting new positions at this time. Our long-term target is the $35.00-40.00 zone.

Apr. 11th, 2009 - entry price on NYX @ 21.51, option @ $1.81
-- NZV-AD, 2010 $30.00 LEAP call - current bid/ask $2.80/2.83
-stop loss on NYX at $22.00

Chart of NYX:


PBR $45.13 -0.08 -- Petroleo Brasiliero

PBR has rallied to resistance near $46.00. Shares look overbought and due for a correction. Look for support near its 100-dma. I'm not suggesting new long-term positions at this time. The plan is to sell half our position at $49.50 and the rest at $57.50.

Apr. 4th, 2009 - entry price on PBR @ 35.10, option @ $2.80
symbol: PMJ-AJ, 2010 $50.00 LEAP call - current bid/ask $2.00/2.10
-stop loss on PBR at $33.50

Chart of PBR:


PCU $29.80 +0.09 - Southern Copper Corp.

PCU is holding up pretty well even though copper prices have been sliding most of the week. If the dollar bounces from its current levels it will put even more pressure on commodities and PCU could breakdown. Readers may want to go ahead and take profits here if you have not done so already. I'm not suggesting new long-term positions at this time.

PCU has already hit our first target at $29.75. We plan to sell the second half of our position at $34.00.

April 20th, 2009 - entry price on PCU @ 19.00, option @ 1.95
symbol: PCU-AE, JAN 2010 $25 LEAP call - current bid/ask $6.00/6.20
-stop loss on PCU @ 22.00 *new*

Target Hit @ 29.75 on 08/24/09. Sold 1/2 at $6.00 (+207%)

Chart of PCU:


PEP $59.86 +1.06 -- PEPSICO Inc.

PEP has rallied to new 2009 highs and is currently testing resistance near $60.00. More conservative traders might want to raise their stops toward the $55 region. Our long-term target is the $65-70 zone. We'll use a stop loss at $51.50. This is an 18-month bet.

July 7th, 2009 - entry price on PEP @ 57.25, option @ $4.50(estimate)
symbol: VP-AL, 2011 $60.00 LEAP call - current bid/ask $5.60/6.00
-stop loss on PEP at $51.50

Chart of PEP:


RAI $45.06 -0.08 -- Reynolds American Inc.

Warning! The relative weakness we've been watching in RAI the last couple of weeks is getting worse. The stock appears to be rolling over. That's not necessarily unhealthy. Shares are up big from their June lows without much of a correction. A normal Fibonacci retracement of the June-August rally would produce a dip towards the $43.00 or $41.75 levels.

I'm not suggesting new LEAPS positions at this time. Wait and watch for support near $42.00. We want to take some money off the table at $49.50 (sell half) and exit completely at $57.50.

July 24th, 2009 - entry price on RAI @ 42.50, option @ $1.45(estimate)
symbol: RAI-BI, 2010 FEB $45.00 LEAP call - current bid/ask $2.60/2.80
-stop loss on RAI at $39.75

or

July 24th, 2009 - entry price on RAI @ 42.50, option @ $4.50(estimate)
symbol: OWO-AH, 2011 JAN $40.00 LEAP call - current bid/ask $6.60/7.20
-stop loss on RAI at $39.75

Chart of RAI:


RIG $86.45 +1.30 -- Transocean Ltd.

RIG has continued to show impressive relative strength. The stock has managed to rally past its June highs near $85.00. Unfortunately now shares look a little overbought and due for a dip. I would look for a pull back toward the $82-80 zone. Please note our new stop loss at $69.95. More conservative traders may want to place their stop loss closer to $75.00. Currently our upside target is $98.00.

July 3rd, 2009 - entry price on RIG @ 70.50, option @ 5.40
symbol: RIG-AP, JAN 2010 $80 call - current bid/ask $11.10/11.30
-stop loss on RIG @ 69.95.

-or-

July 3rd, 2009 - entry price on RIG @ 70.50, option @ 3.90
symbol: RIG-AZ, JAN 2010 $85 call - current bid/ask $8.20/8.30
-stop loss on RIG @ 69.95.

Chart of RIG:


SLB $61.85 +0.06 -- Schlumberger Ltd.

SLB rallied to new two-month highs near $63.00 but still face potential resistance at its June highs near $64.00. We have to keep an eye on the dollar-oil relationship. If the dollar bounces it will put pressure on commodities and oil service stocks could retreat.

Currently our exit strategy has three parts. The plan was to sell one third of our position at $59.00, which was originally our first target. We'll sell another one third at $69.00. We'll exit our final third at $77.50.

April 20th, 2009 - entry price on SLB @ 45.01, option @ 3.00
symbol: SLB-AL, JAN 2010 $60 LEAP call - current bid/ask $6.00/6.20
-stop loss on SLB @ 49.90

1st exit @ $59.00 (1/3 of position) option @ $7.25 (+141% estimate)

Chart of SLB:


TEX $19.55 -0.20 -- Terex Corp.

IT was a very strong week for industrial stocks. TEX rallied toward psychological resistance at the $20.00 level. I would expect a dip back toward $18.00 and its exponential 200-dma. Our upside target is the $28.00-30.00 zone.

Sept. 11th, 2009 - entry price on TEX @ 18.25, option @ 4.40
symbol: HAG-AC, JAN 2010 $15 LEAP call - current bid/ask $5.30/5.50
-stop loss on TEX @ 14.25

-or-

Sept. 11th, 2009 - entry price on TEX @ 18.25, option @ 4.10
symbol: VXQ-AD, JAN 2011 $20 LEAP call - current bid/ask $4.70/5.50
-stop loss on TEX @ 14.25

Chart of TEX:


UYG $6.09 -0.02 - ProShares Ultra Financials (2x) ETF

The UYG hit new highs at $6.30 this past week. The $6.00 level is a 300% rise from our entry point. Investors might want to consider taking some money off the table even though our bias is still very bullish. Short-term the financials look overbought and due for a pull back. More conservative traders may want to raise their stop toward $4.00. I am not suggesting new positions at this time.

Editor's Note: The idea is to hold this ETF as a long-term investment but experienced investors may want to trade it by taking profits now and re-entering on a pull back.

Don't forget that the UYG trades off the DJUSFN index.

The plan is to hold the UYG for 18 to 24 months or longer. We'll evaluate potential exit points along the way. It's true that as a leveraged ETF there will be slippage in the daily performance between UYG and the underlying index.

Our strategy called for buying the ETF instead of the options.

Current position in the UYG = $1.50 entry (stop loss: 3.20)

Chart of UYG:


VOD $22.91 -0.33 -- Vodafone Group

The rally in VOD has stalled. Shares have spent over a week bouncing around the $23.50-22.50 zone. We can expect a pull back with short-term support at $22.00 and strong support in the $21-20 zone. I'm not suggesting new long-term positions at this time. Our target is the $27.50 region.

July 10th, 2009 - entry price on VOD @ 18.25, option @ 1.10
symbol: VOD-AD, 2010 JAN $20 LEAP call - current bid/ask $3.20/3.40
-stop loss on VOD @ 17.85

Chart of VOD:


WFR $18.94 +0.62 -- MEMC Electronic Materials Inc.

Solar stocks continued to bounce and WFR powered through most of its moving averages and the $18.00 level. I'm not suggesting new positions at this time. Our long-term target is the $30.00 region.

June 23rd, 2009 - entry price on WFR @ 17.50, option @ 2.50
symbol: CJC-AD, 2010 JAN $20 LEAP call - current bid/ask $1.90/2.00
-stop loss on WFR @ 14.95

-or-

June 23rd, 2009 - entry price on WFR @ 17.50, option @ 3.43
symbol: ZET-AE, 2011 JAN $25 LEAP call - current bid/ask $2.60/2.85
-stop loss on WFR @ 14.95

Chart of WFR:


XIDE $8.52 -0.16 Exide Technologies

It was another impressive week for XIDE. Shares hit $8.87 on Wednesday. The stock is very short-term overbought given our entry at $6.50. We'll be watching for a pull back but I am not suggesting new long-term positions at this time. Our long-term target is $12.00.

Sep 2nd, 2009 - entry price on XIDE @ 6.50, option @ 1.25
symbol: FRU-CU, 2010 MAR $7.5 call - current bid/ask $2.10/2.40
-stop loss on XIDE @ 4.85

-or-

Buy the stock @ 6.50, stop loss at $4.85

Chart of XIDE:


CLOSED Plays

JOYG $47.45 -0.73 -- Joy Global Inc.

Target achieved. JOYG hit $48.50 late this week just in time for option expiration. Our play is closed but I'd keep JOYG on your watch list. A dip and bounce near $40.00 or it 100-dma might offer another entry point.

June 22nd, 2009 - entry price on JOYG @ 33.00, option @ 3.80
symbol: JQY-AH, 2010 JAN $40 LEAP call - current bid/ask $5.90/6.10
-stop loss on JOYG @ 29.00

Target hit 09/17/09 @ 48.50, option at $10.30 (+171%)

-or-

June 22nd, 2009 - entry price on JOYG @ 33.00, option @ 6.90
symbol: ZMC-AH, 2011 JAN $40 LEAP call - current bid/ask $10.40/11.10
-stop loss on JOYG @ 29.00

Target hit 09/17/09 @ 48.50, option at $14.40 (+108%)

Chart of JOYG: