For those of you holding MO (Altria) I stumbled across this Tobacco indusrty index which goes back to 2000. Very interesting on a weekly showing major support and upward trendline extension for another 10%. Also note that last weeks downward push was nothing but a gap fill from 3 weeks ago to the previous weekly high 5 weeks ago. Folks this is VERY BULLISH and tells me that MO below 17.50 is a steal for the move to 19.50 which could take 3-6 months. Those $17.50 Dec Calls bottomed out at around $0.52 on Friday and I plan on continuing to add on the lows and may pick up some in the money July 2010 if the price is right.
For the Web's best interactive charts, please visit http://www.Prophet.Net
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