Core Labs - CLB - close: 102.28 change: -2.36 stop: 92.25

Why We Like It:
Oil stocks are seeing some profit taking and we'd like to take advantage of any short-term weakness to buy a pull back in CLB. This stock soared to new 2009 highs nearing $105. If shares corrected back to their trend of higher lows then a dip in the $96-95 zone would be a new bullish entry point to buy calls.

I'm suggesting a trigger at $96.00 with a stop loss at $92.25. If triggered our first target is $104.00. Our second target is $109.50.

Suggested Options:
I'm suggesting the November calls but we'll plan to exit ahead of the late October earnings report. Warning - I consider this an aggressive, higher-risk trade because of the wide spreads in the option bid and ask.

BUY CALL NOV 100 CBP-KT open interest= 0   current ask $7.20

Annotated Chart:

Picked on September xx at $ xx.xx <-- TRIGGER @ 96.00
Change since picked:       + 0.00
Earnings Date            10/22/09 (unconfirmed)
Average Daily Volume =        175 thousand 
Listed on September 23, 2009