Play SPWR Calls

Oversold & In the News

By Bryan Bottarelli
Thursday, July 10, 2008 9:47 AM EDT
Thu, 10 Jul 2008 13:47:00 GMT

PLAY: Buy the SPWR August 70 Calls (QSU HN) at or under $4.50, good for the day. Place a protective stop limit at $2.50 and a sniper sell at $6.00.

Dear Bottarelli Research Member,

Big news this morning out of SunPower Corporation (SPWR – NASDAQ), as they announced that Florida Power & Light hired them to build two new solar power plants (one of which is expected to be the largest solar plant in the U.S.)

On this news, shares of SPWR are making a nice $5.00 upside move (this up-move is not shown in the chart below, as today’s price tick has yet to get added). In fact, I’ve been watching as this bear market has crushed some of the very best solar names in the world — and there will be a time very soon where every one of them attracts major buying interest. For SPWR, perhaps that upside trigger has come today. Therefore, let’s use today’s news, combined with SPWR’s dramatic sell-off, to add August calls. Here’s the play:

SPWR

PLAY: Buy the SPWR August 70 Calls (QSU HN) at or under $4.50, good for the day. Place a protective stop limit at $2.50 and a sniper sell at $6.00.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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