Take WFT Profits!

Hold POT and CTRP

By Bryan Bottarelli
Wednesday, May 30, 2007 2:52 PM EDT
Wed, 30 May 2007 18:52:00 GMT

Dear Bottarelli Research Member,

With the last hour, the markets have once again shot to the upside — and this has created a beautiful chart formation on Weatherford International (WFT – NYSE).

WFT

As you can see, the stock could easily break through its recent high at $57.50, so we could have a big winner on our hands here. But for the purposes of our model portfolio, I’d like to take our profits off the table here. After all, we have a 23% overnight gain, so let’s lock in the profits now.

PLAY: Sell your WFT July 55 Calls (WFT GK) at or above $3.10, good for the day.

If you’d like to squeeze out even more upside gains, you can always sell HALF of your call position and ride the remaining half for further upside. If you choose to do that, I’ll continue to follow the play for future sell signals.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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