NEW BULLISH Plays

Capital One Financial - COF - close: 53.17 change: -0.87

Stop Loss: 50.85
Target(s): 57.00, 59.50
Current Gain/Loss: + 0.0%
Time Frame: 4 to 8 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
The major financial indices have been underperforming the market for months. That's not true for COF. Shares of COF broke out to new two-year highs in late April. Now the market's recent correction has pulled COF back toward prior resistance and what should be new support near $53.00.

I am suggesting bullish positions now. We'll use a stop loss at $50.85. Our upside targets are $57.00 and $59.50.

Suggested Position: buy COF stock @ current levels

- or -

buy the June $55 calls (COF1118F55) current ask $1.04

Annotated chart:

Entry on May 5 at $xx.xx
Earnings Date 07/21/11 (unconfirmed)
Average Daily Volume: 3.7 million
Listed on May 4th, 2011