NEW BULLISH Plays
Calumet Specialty Products - CLMT - close: 30.00 change: +0.42
Stop Loss: 28.90
Current Gain/Loss: unopened
Entry on September xx at $ xx.xx
Listed on September 20, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 409 thousand
New Positions: Yes, see below
Why We Like It:
CLMT is in the oil and gas refining business but they specialize in producing oils, solvents, and other petroleum byproducts.
The stock spent a couple of years churning in the $15-25 zone. The current quarter has seen a strong rally to new multi-year highs. CLMT looks poised to breakout into the next leg higher.
I am suggesting a trigger to launch bullish positions at $30.30. We'll start with a stop loss at $28.90. Our multi-week target is $34.75.
Income investors might want to do more research on CLMT as a potential longer-term trade considering the stock's 8.1% dividend yield.
FYI: The Point & Figure chart for CLMT is bullish with a long-term $47.50 target.
Trigger @ 30.30
Suggested Position: buy CLMT stock @ (trigger)
- (or for more adventurous traders, try this option) -
buy NOV $30 call (CLMT1217K30) current ask $1.20