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PCAR None None

New Calls

PACCAR - PCAR - close: 47.67 change: -1.36 stop: 50.81

Company Description:
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. It also provides financial services and information technology and distributes truck parts related to its principal business. (source: company press release or website)

Why We Like It:
PCAR is breaking down to new relative lows and the recent bounce attempt has already failed near round-number support and resistance near $50.00. More nimble traders may want to buy puts now. We are suggesting that readers wait for a little more confirmation of the breakdown. Our suggested entry point is at $46.99 and we'll use a stop loss just above today's high at $50.81. Our target is the $42.50-42.00 range. The Point & Figure chart is forecasting at $38 target.

Suggested Options:
We are suggesting the December or January puts. Our suggested entry point is $46.99.

BUY PUT DEC 45.00 PAQ-XI open interest=461 current ask $2.00

BUY PUT JAN 45.00 PAQ-MI open interest=291 current ask $3.00

Picked on November xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/30/08 (unconfirmed)
Average Daily Volume = 2.7 million
 

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