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BRCM None None

New Calls

Broadcom - BRCM - cls: 35.46 change: +0.22 stop: 33.95

Company Description:
Broadcom Corporation is a major technology innovator and global leader in semiconductors for wired and wireless communications. (source: company press release or website)

Why We Like It:
BRCM has been digesting its late August and early September gains but that consolidation looks like it's nearing an end. Shares are edging higher and look poised to breakout over resistance near $35.80. We're going to suggest a trigger to buy calls at $35.85. Looking at the bigger picture BRCM does have clear resistance at the $37.00 level. More conservative traders may want to wait for BRCM to push past the $37.00 mark before considering bullish plays. Our target is the $39.85-40.00 range. The Point & Figure chart is bullish with a $49 target.

Suggested Options:
We are suggesting the October calls. Our trigger to open plays is at $35.85. It is up to the individual trader to decide which month and which strike price best suits their trading style and risk.

BUY CALL OCT 35.00 RCQ-JG open interest=6915 current ask $2.00
BUY CALL OCT 37.50 RCQ-JU open interest=1801 current ask $0.95

Picked on September xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/17/07 (unconfirmed)
Average Daily Volume = 11.0 million
 

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