Take MRO Profits

Plus, ATI Update

By Bryan Bottarelli
Thursday, April 26, 2007 10:32 AM EDT
Thu, 26 Apr 2007 14:32:00 GMT

Dear Bottarelli Research Member,

Perhaps I’m jumping the gun, but I think it’s smart and safe to take our Marathon Oil (MRO – NYSE) profit off the table. The MRO June 100 Calls (MRO FT) that we entered yesterday for $5.40 are now trading for $6.50, so let’s lock in the conservative gainer now.

PLAY: Sell the MRO June 100 Calls (MRO FT) at or above $6.20, good for the day.

In terms of Allegheny Technologies (ATI – NYSE), some members were stopped out yesterday at $4.40 when floor traders artificially moved the prices of the ATI June 115 Calls (ATI FC) down to $4.40 without a corresponding move in the stock. For this reason, I’d like to begin using “stop limit” orders — which “hide” your protective stops from showing up in the floor traders books. As a result, we can avoid price manipulation like this going forward. The bottom line is, I still like the idea of owning the ATI June 115 Calls (ATI FC), and I’ll continue to follow the position for all the members who are still in. But in the meantime, take your MRO gains now!

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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