Actually, Add EXM Calls Now

Delayed Momentum Now Hitting

By Bryan Bottarelli
Wednesday, October 31, 2007 3:10 PM EDT
Wed, 31 Oct 2007 19:10:00 GMT

Dear Bottarelli Research Member,

In a rather uncommon move, the market delayed their upside reaction to the Fed’s announcement — which was disseminated just under one hour ago. But contrary to what I said in my previous alert, the market is now breaking out of its trading range and moving higher, and this action now supports adding the EXM November 75 Calls (EXM KO) to our ledger. So here’s the play!

EXM

PLAY: Buy the EXM November 75 Calls (EXM KO) at or under $4.30, good for the day. Current bid/ask spread is $3.70 to $3.90. Place a protective stop limit at $2.00.

At the same time, continue to hold your OEH December 65 Calls (OEH LM), BID November 55 Calls (BID KK), and BHP November 85 Calls (BHP KQ), as any carry-forward upside momentum will allow us to take profits on all three positions. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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