[Opening Position in MGM MIrage (MGM) LEAPS Calls]
Dear Member:
MGM Mirage (MGM) has broken above a resistance and above $90. The old saying is that if a stock hits $90 it will go to $100. Though there is definitely no guarantee, I like what I see with MGM since DMI and MACD have also turned positive. I am placing an order to buy the Jan 2010 $80 LEAPS calls (which are currently a little more than $10 in the money) at a limit of $27.90.
DISCLOSURE: At the time of publication, I have no position in the referenced LEAPS, MGM stock, or any of its options.
Sincerely,
Bill Kraft
|
