Add DO Calls

Playing an Oil Bounce

By Bryan Bottarelli
Wednesday, September 02, 2009 11:32 AM EDT
Wed, 2 Sep 2009 15:32:00 GMT

PLAY: Buy the DO September 86.25 Calls (DOH ID) at or under $3.10, good for the day. Place a protective stop limit at $1.50 and a sniper sell at $5.00.

Dear Bottarelli Research Member,

Following up on our latest alert, I’d like to make a move on Diamond Offshore Drilling (DO – NYSE).Chart-wise, the stock is hammering out support right at the 50-day moving average. If this level holds (and I think it will), DO should be setting up for a nice bounce. Let’s get positioned to play this now!

DO

PLAY: Buy the DO September 86.25 Calls (DOH ID) at or under $3.10, good for the day. Place a protective stop limit at $1.50 and a sniper sell at $5.00.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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