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Closed Long Plays

ConocoPhillips - COP - cls: 78.31 chg: +6.05 stop: 68.90

Target achieved. The combination of another $6.00 rally in oil and a massive rally for stocks sent shares of COP to an intraday high of $79.88. Our target was the $78.50-80.00 zone. The $80.00 level and the 50-dma are overhead resistance and we would expect some profit taking after such a large rebound. A dip or a bounce near $75.00 might offer another bullish entry point.

Picked on September 16 at $72.28 /target achieved
Change since picked: + 6.03
Earnings Date 10/22/08 (unconfirmed)
Average Daily Volume: 12.7 million

Closed Short Plays


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