Long Position on AMT @ $72.30 on 7/25/2012 (Momentum)

American Tower Corporation (AMT), a real estate investment trust, operates as a wireless and broadcast communications infrastructure company. It develops, owns, and operates communications sites. The company's rental and management operations include leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities, and tenants in various other industries; managing rooftop and tower sites for property owners; operating in-building and outdoor distributed antenna system (DAS) networks; and managing lease property interests under carrier or other third-party communications sites. It also provides network development services, such as tower-related services comprising site acquisition, zoning and permitting services, and structural analysis services. As of December 31, 2011, the company owned and operated approximately 21,320 towers in the United States and approximately 23,900 towers in Brazil, Chile, Colombia, Ghana, India, Mexico, Peru, and South Africa; approximately 260 DAS networks; and approximately 1,810 communications sites. It has elected to be taxed as a real estate investment trust. As a result, the company would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders. Shares are heading higher in a bullish "cup & handle"  and are expected to move higher in this formation. The stock has a 52-week trading range of $46.04 - $72.42. Shares last traded at $72.28. Should you decide to take a position, wait for the morning volatility to wear off and use a stop-loss of $68.66 (five percentage points below your purchase price.) Be sure to use a limit order and not a market order. Keep in mind that our price target is 10% higher than your purchase price.

Position closed on 8/15/2012 at price of $72.50 with a 0.28% gain in 21 days.

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