Trading the 52-Week High

Let’s say your stock hits a 52-week high. What do you do?

Lots of investors grappled with that very question on Thursday after a string of widely traded names touched milestone levels.

We spotted the following: (Scroll down for the trades)

Apache (APA)

(APA) Loading...       (%)

Transocean (RIG)

(RIG) Loading...       (%)

Freeport McMoRan (FCX)

(FCX) Loading...       (%)

Mylan (MYL)

(MYL) Loading...       (%)

Google (GOOG)

(GOOG) Loading...       (%)

Cisco (CSCO)

(CSCO) Loading...       (%)

What’s the trade?

I sold some November 95 calls in RIG for protection, reveals Karen Finerman.

I still like FreeportMcMoRan, adds Pete Najarian. I just don’t think investors understand how growth in China just plays right into Freeport’s core business.

If you’re riding Apache you might be interested to know either Goldman or Morgan has a $120 price target on the stock, explains Guy adami . I think it heads higher. In fact I think all the names above still work.

 

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Current DateTime: 03:14:21 28 May 2012
LinksList Documentid: 26256943

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Current DateTime: 03:14:21 28 May 2012
LinksList Documentid: 26256941

• Super Traders Slideshow
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