RIMM Wants $100

Play Calls Now

By Bryan Bottarelli
Monday, September 24, 2007 11:04 AM EDT
Mon, 24 Sep 2007 15:04:00 GMT

Dear Bottarelli Research Member,

Tech stocks are screaming out of the gate today, lead by the usual suspects: Garmin (GRMN – NASDAQ), Apple (AAPL – NASDAQ), and Research In Motion (RIMM – NASDAQ). I particularly like the action of RIMM this morning, as the stock is making a strong move to $100 leading up to their October 4th earnings announcement. Take a look:

RIMM

Based on this earnings-induced upside momentum leading into early October, let’s establish a new RIMM call play now.

PLAY: Buy the RIMM October 95 Calls (RUL JS) at or under $7.20, good for the day. Current bid/ask spread is 6.80 to $7.00. Place a protective stop limit at $4.00.

Also blasting higher this morning is two of our recent plays: BHP and CHL. This morning, BHP Billiton (BHP – NYSE) announced that they’re discovered — what could be — the largest gold resource in the world at their Olympic Dam mine in South Australia. On the news, the stock has advanced over $4.00 higher. Take a look:

BHP

If, by any chance, you’re still holding the BHP October 70 Calls (BHP JN), take your profits off the table now!

Along the same lines, shares of China Mobile (CHL – NYSE) are blasting higher as well. Take a look:

CHL

If you are still holding the CHL October 70 Calls (CHL JN), take your profits now too!

Also moving to stratospheric levels are casino operators Las Vegas Sands (LVS – NYSE) and Wynn Resorts (WYNN — NASDAQ). I’ve learned long ago that when these two get upside momentum on their side, don’t question it. Simply sit back and let them run.Take a look at these charts and you’ll see what I mean:

LVS

WYNN

Of the two, it looks like WYNN has the potential for stronger upside — so if we see a momentary dip in the shares, I may add a new October call position. The moment it’s time to strike, you’ll be the first to know. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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