ACTION:

Take profits and sell to close the first half of the WFC October 60 calls at current levels.

Dear Momentum Stocks Weekly Subscriber,

I have a Profit Alert on a name that is hitting fresh 52-week peaks today. Our call options that were recommended in May are up nearly 50%, and I want to take advantage of today’s strength.

 

Wells Fargo (WFC, $57.26, up $0.56)

WFC October 60 calls (WFC151016C00060000, $1.00, up $0.10)

Entry Price: $0.67 (5/5/2015)

Exit Target: $1.35

Return: 49%

Stop Target: $0.70, raise to $0.85 (Stop Limit)

Take profits and sell to close the first half of the WFC October 60 calls at current levels.

Also, raise the Stop Limit from $0.70 to $0.85 on the second half of the trade. Today’s low on the calls has been $0.88, with the high reaching $1.05.

Shares have traded to a fresh 52-week and all-time high of $57.57 today.

 

All prices given in this update are current as 1:40 p.m. EST.

I hereby disclose that I will be participating in the aforementioned trade(s). Every new Momentum Stocks Weekly recommendation is listed with the price at which I entered my own position. If the price is slightly different than my recommended entry or exit price when you receive the alert, don’t let that keep you from getting into or out of a trade. Occasionally, you might even get a better “fill” price than what is posted in the Open Trades and Closed Trades.

Trade on!

Signed

Rick Rouse
Editor
Momentum Stocks Weekly