2/8/2012 - BBG Long

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Just alerted this in my newsletter....

There is a potential bottom in place here after it recently broke through a little wedge it had been forming since October. BBG closed at $27.66 up .58% on the day.

Currently the 20 ma is coming down which will act as resistance and try to push the stock lower again. However, I see BBG breaking above it and heading for the $30 price level again. There is also resistance between $28.50 and $28.70 which it may stall out at, but eventually should break through.

I’m looking at the March 30x calls on BBG as the best strike. It has the most volume and the best spread. Plus with February’s expiring next week we’ll have some extra time on our hands. The options aren’t that liquid on this stock, but as long as there’s a good spread then it shouldn’t be a problem. The March 30x calls closed today at .60 (.60 x .70). Assuming we don’t see a gap up tomorrow I'll try to grab some calls around .60.

In at .60 on the March 30x calls

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Originally Posted by chhansen 

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Curious, how often do you send out newsletters? Your recent picks have probably done wonders to members of your service :)

Well the newsletter is free for everyone, I send out picks through there usually once every week and a half to two weeks or so. There's a little subscribe to my newsletter box on the home page of my site if you want to enter in your email address. But I also post them here so...

For paying members, I provide alerts every day (day trades) in my live chat. In addition to that I send out email alerts to the members who subscribe to my other service. There are two different subscriptions available. One is the basic which allows access to the chat, the other costs a bit more which also provides email alerts for swing trades.

Full details and pricing are on my site if you go to the subscribe page (you have to be logged in to see it).

:)

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Originally Posted by OldFart 

nice bounce on BBG....

Sarcasm? haha

It's just consolidating right now, should have a big move within the next week or two IMO ahead of earnings on the 23rd. Although today's triple digit drop didn't really help 

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Originally Posted by OldFart 

not sarcasim...it's being bought up on every drop, which to me means bullish action on the way...( similar to SPRD drop, then spiked )

 

take a look at PPL...similar scenerio, but jumped on earnings blow out...I have one contract of the 28x calls for .31....hopefully hits $30 by next week when time runs out..lol...gamble play

Oh okay, thought you meant it was supposed to be up lol

But yeah, it held that base by closing above it. Chart still looks bullish. So that was you who got the .31 lol

good close on BBG today at 27.25. it was outperforming the markets all day. more importantly it held its support.

finished just off the hod, calls finished at .50 x .55. looking for it to break above the $28 level soon and head for $30 again.

BBG just broke the 20 ma and $28

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Originally Posted by charulz 

BBG looking good today

Yeah, not caring what the market does today. Holding around the $28 level well.

Just looking for a close above the 20 ma today.

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Originally Posted by OldFart 

moving along nicely....congrats on another good call

Thanks, unfortunately I got in too high at .60. They're still at .60 x .70 so I'm flat. Need some more upside on it.

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Originally Posted by OldFart 

oh...still chugging along though

 

my PPL call ain't doing that great either...they sold it off hard after the spike.....got till tomorrow....maybe some upside

Yeah...

PPL was on my watch list too, but I didn't play it because earnings were a couple days away after the chart was just setting up for its breakout. So I stayed away, had a good move though.

BBG calls finally moving lol

.80 x 1.00 ..last trade at .90

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Originally Posted by o7media 

BBG calls finally moving lol

 

.80 x 1.00 ..last trade at .90

.90 x 1.15 now... i'm looking for an exit soon.

Well holding my BBG calls over the weekend. Good close on it. Still potential upside to $29.91