Add FLR Calls

Playing the Strongest of 2008

By Bryan Bottarelli
Thursday, January 03, 2008 11:54 AM EST
Thu, 3 Jan 2008 16:54:00 GMT

Dear Bottarelli Research Member,

As you can see from our latest trade on Oceaneering International (OII – NYSE), the hottest stocks of the young 2008 trading year are the major engineering plays. And similar to the bullish chart formation that sparked our OII call recommendation, I’m now seeing a similar formation in shares of Fluor Corporation (FLR – NYSE).

FLR

FLR is a global engineering and construction company with operations in five major segments including oil, gas, industrial infrastructure, and power. As you can see below, the stock is bouncing strongly off its 50-day moving average, so I’d like to play a continued upside move using January calls. Here’s the play:

PLAY: Buy the FLR January 155 Calls (FLR AK) at or under $4.80, good for the day. Current bid/ask spread is $4.20 to $4.40. Place a protective stop limit at $2.00.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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