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MICC None None

New Calls

Millicom - MICC - cls: 76.01 chg: +0.56 stop: 72.75

Company Description:
Millicom International Cellular S.A. is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has cellular operations and licenses in 16 countries. The Group's cellular operations have a combined population under license of approximately 280 million people. (source: company press release or website)

Why We Like It:
The recent pull back in the markets has pulled MICC back towards the $75 level and offered us an entry point to jump on its bullish run higher. The stock did peak back in February over $80 but traders bought the dip near its rising 50-dma a few weeks ago. We do notice that volume is not coming in as strong during the big moves in January and February and that might be a cautionary sign but we'll try and limit our risk with a stop loss under the 50-dma. We're suggesting that readers buy calls with MICC above $75.00. Our target is the $80.00-81.00 range. The Point & Figure chart is bullish with an $88 target. We do not want to hold over the late April earnings report.

Editor's note: We apologize for the charts. Our normal charting program was experiencing technical difficulties.

Suggested Options:
We're suggesting the May calls although Aprils might work just as well and have more open interest.

BUY CALL MAY 75.00 CQD-EO open interest=36 current ask $6.00
BUY CALL MAY 80.00 CQD-EP open interest=80 current ask $3.50

Picked on March 27 at $ 76.01
Change since picked: + 0.00
Earnings Date 04/25/07 (unconfirmed)
Average Daily Volume = 616 thousand

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