Play JOYG Calls Now

A Bullish Coal Position

By Bryan Bottarelli
Monday, May 12, 2008 12:01 PM EDT
Mon, 12 May 2008 16:01:00 GMT

PLAY: Buy the JOYG June 80 Calls (JQY FP) at or under $5.30, good for the day. Place a protective stop limit at $3.10 and a pre-determined sniper sell at $6.60.

Dear Bottarelli Research Member,

Over the last hour, the markets have made a nice upside push. And while I’m not yet ready to jump with both feet onto the bullish bandwagon, I would like to establish another upside call play on a stock exhibiting breakout characteristics. And that company is Joy Global (JOYG – NASDAQ).

JOYG

JOYG is a stock that I highlighted last week, so I won’t spend too much time on it today. But following up on my bullish coal comments from this morning, JOYG is the leading manufacturer of coal-mining equipment. Think of them like the Caterpillar or the John Deere of the coal sector. As you can see from the chart, shares have triggered a new 52-week high today, and this is an early indication that shares will continue moving higher in the near term. Therefore, let’s add JOYG calls to our ledger now!

PLAY: Buy the JOYG June 80 Calls (JQY FP) at or under $5.30, good for the day. Place a protective stop limit at $3.10 and a pre-determined sniper sell at $6.60.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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