Zacks.com Announces That Dr. Edward Olmstead Highlights an Option for the Following Stock: Hovnanian Enterprises Inc

Business Wire, Jan 18, 2005

CHICAGO -- Dr. Edward Olmstead, editor of the Options Professor newsletter, saw the homebuilding stocks beginning to breakout last week. Learn about his favorite company in the space and a bonus option trade for Hovnanian Enterprises Inc. (NYSE:HOV). Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84

Highlights from the January 6th Featured Expert column by Dr. Edward Olmstead includes:

Once 2005 arrived, the market stayed in bull mode for about 20 minutes, as taxdeferral selling kicked in. With bullish sentiment readings at 18-year highs and the VIX (volatility index) sporting readings at 9-year lows, the majority of investors were caught wrong-footed. The release of the minutes of the Federal Open Market Committee meeting on December 14, which noted Fed concern about excessive speculation in equities and housing threw gasoline on the bearish embers. Shock and awe spread widely and Dr. Olmstead was fortunate to have been able to capture some of the short-term downside as these technical formations did what they typically do.

BONUS OPTIONS PLAY OF THE WEEK from January 13th, 2005

Hovnanian Enterprises Inc. (NYSE:HOV): Today (01-13) Dr. Olmstead is seeing the homebuilding stocks beginning to breakout. His favorite is HOV. Based upon fundamental and technical analysis, it is projected that over the 5 weeks, HOV will rise to $55.

Trade: Buy 1 Feb 45 call for $6.70 per share.

Dr. Olmstead's first target is for the HOV to rise to $53.5.00. If that occurs anytime before February 4, this trade should show a profit of at least $170 for a gain of 25% or better.

Get much more of Dr. Edward Olmstead's information on the option above by clicking: http://at.zacks.com/?id=85

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