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Company Profile
After Hours: $110.60
EARNINGS: 04/29/2010
STATUS: Rolling. Surged upside Friday, but with the market selling POT could not hold the move. Didn't go to pot, just faded to flat on the close. Solid even in the selling; another stock that did its selling while much of the market rallied. Still very interested in the upside play on this one. To recap: POT is rolling up and down in a range with 105 acting as one of the strong support levels on the low side of the channel. It undercut that level almost two weeks back and immediately recovered. It has ranged laterally since, and on Thursday POT announced earnings. It was not hammered, not shot higher. Instead it managed to rally after a modestly lower open, closing positive on solid volume. We are looking for a roll back up in the range, up toward 125. That has been a pretty orderly rotation for the stock over the past 5 months. We will see if it can pull it off again. The near support makes this a good risk/reward point to enter for a run upside.
CHART VIDEO
Volume: 5.697M Avg Volume: 6.282M
BUY POINT: $111.82 Volume=8.4M Target=$125.94 Stop=$105.44
POSITION: POT 10I110 - Sept. $110c (53 delta) &/or Stock
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