Imax Looking For $10

12:35pm (EST) Imax (IMAX, $9.85, up $0.30) is trying like mad to break $10 today as the stock has hit a high of $9.97. I will be bringing you more of the Imax story over the next day or two but I’m really starting to get excited about the company’s longer-term prospects. The September 7.50 calls (IMQIU, $2.45, up $0.35) are getting a nice pop today… Bank of America (BAC, $17.88, up $0.42) has broken $18 and Citigroup (C, $4.92, up $0.22) is pushing $5. The credit card stocks got an upgrade this morning and companies like American Express (AXP, $33.49, up $0.64) and Capital One (COF, $37.39, up $0.91) have jumped on the positive comments. Potash (POT, $98.22, up $2.18) tried to clear the $100 hurdle but got tripped at $99… I’ll be back tonight with a complete update on our current trades by 11pm. Enjoy your gains and take some profits on these positions when they hit 100% return. If you sell half it means we are playing with the house’s money. Rick@MomentumOptionsTrading.com]]>

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