- New Trades -

L-3 Communications - LLL - close: 75.85

11/03/12: LLL was a watch list candidate. This defense contractor's stock price has been consolidating under major resistance at the $75.00 level for months. we wanted to wait and buy calls if shares could close over $75.50. Fortunately, LLL has been showing relative strength and managed to keep its gains on Friday while most of the market rolled over. This is a very bullish breakout. Friday's close at $75.85 meets our entry point requirements.

Our trade will open on Monday morning at the open. More nimble traders may want to wait and try and time an entry on a dip back to the $75.00 level, which should act as brand new support. Our long-term target is $85.00. The Point & Figure chart for LLL is bullish with an $85 target.

- Suggested Positions - (small positions @ first)
NOV 05, 2012 - entry price on LLL @ --.--, option @ -.--
symbol: LLL1418a80 2014 JAN $80 call - current bid/ask $ 4.20/ 4.60

Chart of LLL:

Current Target:$ 85.00
Current Stop loss: 71.85
Play Entered on: 11/05/12
Originally listed on the Watch List: 10/20/12