Sprint (S)

It feels good to have given a buy on Sprint before the big boys.  I recommended a buy on May 13, and yesterday Goldman Sachs (and another broker) upgraded Sprint to a buy as well with a target of 6 (my target as well).  The options are nicely in the money now and I hope to hit 6 soon to cash out.  Since I have Nov 4 options, there is plenty of time left on these calls.

The market is also behaving as I expected and continues to drop.  We are at around 9865 for the DOW and the predicted drop for the expanding triangle should take us to around 9500 or so before long.  The question is whether the market will find support there or not.  I expect there would be some kind of bounce, but with all the negativity about the EU, the chance of the DOW breaking to the downside is pretty good and that will probably take us back into a bear market zone.  Let's see if we get some better news about the EU and maybe then we can find some support for the markets.