Add ETR Calls

Take IMO Profits

By Bryan Bottarelli
Friday, June 15, 2007 9:43 AM EDT
Fri, 15 Jun 2007 13:43:00 GMT

Dear Bottarelli Research Member,

This morning’s core CPI is going to provide a nice boost for the utility sector, so let’s use the momentum to get positioned to the upside. This is the trigger that I’ve been looking for to add a new July call position in Entergy (ETR – NYSE), so let’s move quickly.

ETR

PLAY: Buy the ETR July 110 Calls (ETR GB) at or under $4.60, good for the day. Current bid/ask spread is $4.30 to $4.50. Place a protective stop limit at $2.80.

Let’s also use this morning’s upside momentum to take profit off the table on Imperial Oil (IMO – AMEX). The IMO July 45 Calls (IMO GI) that we entered for $3.40 have traded as high as $3.90 today, so let’s lock in this winner now.

IMO

PLAY: Sell your IMO July 45 Calls (IMO GI) at or above $3.90, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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