Take CELG Profits

Thank You Jim Cramer

By Bryan Bottarelli
Tuesday, December 05, 2006 2:59 PM EST
Tue, 5 Dec 2006 19:59:00 GMT

Dear Bottarelli Research Member,

Yesterday, as shares of Pfizer (PFE – NYSE) were falling $4.00, I recommended buying CELG April 60 Calls (LQH DL) for $4.80 based on my view that Celgene (CELG – NASDAQ) was the most attractive takeover target within the entire biotech industry — making a special note that Pfizer should use part of their $13 billion in cash to acquire CELG’s robust product pipeline. Well, it turns out that I wasn’t the only one with this opinion.

CELG

Yesterday evening on his TheStreet.com TV video, Jim Cramer said that Pfizer needs to buy another company because it needs growth, specifically naming Amgen (AMGN – NASDAQ) and Celgene (CELG – NASDAQ) as two of the top potential candidates. On this news, shares of Celgene are up over $1.00 in today’s trading, which has pushed your CELG April 60 Calls (LQH DL) from $4.80 all the way up to $5.80. That’s a 20% return in one day — and I want to take full advantage. Let’s take the profits off the table now, as we can always re-enter these April calls in the future on any momentary price dips.

PLAY: Sell your CELG April 60 Calls (LQH DL) at or above $5.70, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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