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FLML Shooting Higher!

By Bryan Bottarelli
Monday, October 23, 2006 12:17 PM EST
Mon, 23 Oct 2006 17:17:00 GMT

Dear Bottarelli Research Member,

I simply cannot pass over a trade that gains 20% in a matter of hours, and that’s exactly what we have with our upside trade on Flamel Technologies (FLML – NASDAQ).

FLML

As you can see from the chart, FLML has continued to shoot higher all morning, a move that helped push our FLML December 20 Calls (FLU LD) from $4.50 up to $5.10. As I write, in fact, the bid/ask spread is $5.10 to $5.50 which means that a $5.40 price tick would represent a 20% gain in a matter of hours. If we can execute a $5.40 sell price by the end of today’s trading, I’m inclined to take the money and run! So here’s the advice for the rest of the trading session:

PLAY: Sell the FLML December 20 Calls (FLU LD) at or above $5.40, good for the day. Current bid/ask spread is $5.10 to $5.50.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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