marketwizard
Long

LMT - Strong R/S. GAP DOWN Opportunity to BUY at $202-$205

NYSE:LMT   LOCKHEED MARTIN CORP
lmt
14 1 0
lmt
Stock is very strong relative to overall market. Closed September '15 gap on Tuesday's huge downside gap. The gap suspiciously followed a strong earnings number and a positive value deal announced. Institutional ownership very strong and a lot of fund money wants in but there's very little stock available. Tuesday's conspicuous gap to the downside is possibly a Specialist attempt to create the volume to start crossing some large institutional tickets on the book. I would be a buyer of this stock between $202-$205 with an upside short term target of $212 and $217. Stop below $202 area (dealer's choice)
Update: Those are strictly short term targets. I would put some of this stock in my longer term book at these prices until after the election.
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