Second Chance IMO Profits

Lock in Gains (If You Haven’t Already)

By Bryan Bottarelli
Tuesday, June 19, 2007 11:07 AM EDT
Tue, 19 Jun 2007 15:07:00 GMT

Dear Bottarelli Research Member,

A nice upside jump on Imperial Oil (IMO – AMEX) is giving you a second chance to take profits on your IMO July 45 Calls (IMO GI). If you were unable to sell thee calls on June 15th, then use today’s pop as a second opportunity to lock in your profits.

IMO

PLAY: Sell your IMO July 45 Calls (IMO GI) at or above $3.80, good for the day.

Let’s also close off our ETR July 110 Calls (ETR GB). We tried to initiate a quick sell on this play, but prices did not get as high as we wanted. As a result, ETR has found resistance at the 50-day moving average and I’d feel more comfortable cutting this one short. There’s no sense fighting against a bearish formation, so here’s the play.

ETR

PLAY: Sell your ETR July 110 Calls (ETR GB) at market, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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