As expected, KORS is just beginning to move higher from our May 28 recommendation. There’s a good amount of upside remaining here. Consider selling to close half, though, to secure gains.
As for new trade ideas, consider a long bet on McDonald’s (MCD). The stock has been stuck in a channel between $94 and $100 since late February 2015. If the latest support holds around $96, the stock has a chance of moving higher in the channel. Consider buying to open the MCD August 2015 97.50 call up to $3.65.
Hold all other open positions. Look for new trade ideas shortly.
Ian L. Cooper
Forgotten Profits