Best Buy (BBY) NewsBite - BBY Covered In Lee Allen Report Today

Posted: Thursday, October 30, 2008 11:12 AM EDT

Best Buy (BBY) was covered in a Lee Allen Report today and the stock is now at $24.25, up $1.10 (4.75%) on volume of 1,590,557 shares traded. To see the report go to http://www.iotogo.com/la103008 . Over the last 52 weeks the stock has ranged from a low of $20.00 to a high of $53.90. Best Buy stock has been showing support around $21.33 and resistance in the $25.69 range. Technical indicators for the stock are bullish and S&P gives BBY a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on BBY the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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