A Quick Note

ETR, IMO, CELG, and BDK Guidance

By Bryan Bottarelli
Monday, June 18, 2007 10:22 AM EDT
Mon, 18 Jun 2007 14:22:00 GMT

Dear Bottarelli Research Member,

I’ll be traveling all day today, so this will be the only alert I’ll issue. But nevertheless, I still wanted to send you a quick note to address our open positions.

Starting with Entergy (ETR – NYSE), let’s continue to maintain the $5.30 sell on your ETR July 110 Calls (ETR GB). With the markets opening flat this morning, we could see another upside push later in the trading session that triggers a $5.30 sell, so continue to work this order.

PLAY: Sell the ETR July 110 Calls (ETR GB) at or above $5.30, good for the day.

Along the same lines, maintain the $3.90 sell on your IMO July 45 Calls (IMO GI). I know that prices moved quickly last week, so if you’re still holding this position you could get a second exit opportunity this week.

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

And finally, maintain your Black & Decker (BDK – NYSE) and Celgene (CELG – NASDAQ) puts. As I mentioned last week, the market’s strong upside trend did little to change my bearish opinion on each chart formation, so I feel owning puts on both CELG and BDK will eventually pay off.

I’ll be back tomorrow with further trading alerts, but until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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