Add APC Calls

Strong Support Confirmed

By Bryan Bottarelli
Monday, May 18, 2009 11:07 AM EDT
Mon, 18 May 2009 15:07:00 GMT

PLAY: Buy the APC June 45 Calls (APC FI) at or under $2.20, good for the day. Place a protective stop limit at $1.20 and a pre-determined sniper sell at $3.90

Dear Bottarelli Research Member,

After a pullback last week, oil prices are bouncing back up today, offering us a nice opportunity to enter calls on Anadarko Petroleum (APC – NYSE). Due to their $20 billion market cap, APC isn’t as well known as bigger oil firms like BP, Conoco Phillips, or Exxon Mobil. But right now, they’re giving off the best technical formation of any oil play that I’ve looked at today.

APC

As you can see, the stock is bouncing right at the cross of the 50-day and the 200-day moving averages, which could indicate that a re-test of the $52.50 high is near. If so, adding June calls to our ledger now would hand us a nice profit. Let’s get positioned now.

PLAY: Buy the APC June 45 Calls (APC FI) at or under $2.20, good for the day. Place a protective stop limit at $1.20 and a pre-determined sniper sell at $3.90.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

© 2012 CSR Group, LLC. All rights reserved. Published in USA.

Information, opinion, research, and commentary contained herein is obtained from sources believed to be reliable; their reliability, however, cannot be guaranteed. The maxim of Caveat Emptor applies — let the buyer beware. Bottarelli Research does not provide individual investment advice, act as an investment advisor, or individually advocate the purchase or sale of any security or investment.

Investments recommended in this service should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Bottarelli Research reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscriber’s initials will be used unless express written permission has been granted to the contrary.

CSR Group, LLC expressly forbids its writers from having a financial interest in any security recommended to readers. Furthermore, all employees and agents of CSR Group, LLC and its affiliate companies must wait 24 hours before following a published recommendation.

Bottarelli Research alerts contain time-sensitive information, and are published and distributed to members with urgency. Because of this, not all published materials can be adequately proofread, and an occasional spelling or grammar error may exist.


Other Options Alerts From May 2009