Add PTR Puts

Stock Failing at the 50-Day MA

By Bryan Bottarelli
Thursday, August 30, 2007 2:53 PM EDT
Thu, 30 Aug 2007 18:53:00 GMT

Dear Bottarelli Research Member

This is a quick alert to add puts on PetroChina (PTR – NYSE). Within the last hour, the markets have taken a turn lower, and this has enabled PTR’s technical failure at their critical 50-day moving average. If PTR’s downside momentum kicks in, this stock could fall $10.00 to $15.00 in short order, so let’s get positioned to profit off this downside move using September puts. Here’s the play:

PTR

PLAY: Buy the PTR September 140 Puts (PTR UH) at or under $5.80, good for the day. Current bid/ask spread is $5.40 to $5.70. Place a protective stop limit at $3.00.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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