Add ULTA Calls

Playing a Consolidation Break Out

By Bryan Bottarelli
Monday, October 24, 2011 10:00 AM EDT
Mon, 24 Oct 2011 14:00:00 GMT

PLAY: Buy the ULTA November 70 Calls (O:ULTA 11K70.00) at or under $4.30 (or best price), good for the day. Place a protective stop limit at $2.30 and a pre-determined sniper sell at $6.50.

Dear Bottarelli Research Member,

Let’s dip our toe into the long side by playing calls on the strongest chart formations which leads us back to Ulta Salon, Cosmetics & Fragrance (ULTA – NASDAQ). As you can see from the chart, a long consolidation band between the $67.50 to $70 level is now setting up for a powerful upside move. That is, if ULTA can break above $70, it has room to quickly move higher. Let’s prepare ourselves for this move by adding November calls.

PLAY: Buy the ULTA November 70 Calls (O:ULTA 11K70.00) at or under $4.30 (or best price), good for the day. Place a protective stop limit at $2.30 and a pre-determined sniper sell at $6.50.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli
Editor, Bottarelli Research
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