Take ICE Profits

Lock In Another Quick Gainer

By Bryan Bottarelli
Wednesday, September 26, 2007 11:04 AM EDT
Wed, 26 Sep 2007 15:04:00 GMT

Dear Bottarelli Research Member,

Our so-called “aggressive” trade on InterContinental Exchange (ICE — NYSE) continues to tick higher, so let’s use today’s upside momentum to lock in gains on our ICE October 155 Calls (IHH JK). We entered these calls yesterday for $5.70 and they’ve traded as high as $7.40 today, so let’s take the profits off the table now!

ICE

PLAY: Sell your ICE October 155 Calls (IHH JK) at or above $6.80, good for the day.

At the same time, an absolutely ridiculous “downgrade” of Under Armour (UA – NYSE) is pushing the stock lower today. According to UBS, they’re taking the stock down to “Neutral” based on the view that warmer temperatures across the country in September could reduce UA’s cold-weather sales this month — thus putting a dent in their Q3 numbers. But if anyone heard Nike’s (NKE — NYSE) latest earnings report, they already showed Wall Street that this was not the case. I personally think this is a move by UBS to push UA shares down just so they can get their top clients into the stock — and I fully expect to see the shares snap back soon. But in the context of our UA October 65 Calls (UA JM), we must unfortunately call the play stopped and close the trade.

Also, if you were unable to get the $10.00 sale price on Research In Motion (RIMM – NASDAQ) this morning, then go ahead and lock in gains anywhere at or above $9.00 per contract. And let’s also keep an eye on upside favorites like Potash of Saskatchewan (POT – NYSE), Wynn Resorts (WYNN – NASDAQ), and Southern Copper (PCU – NYSE) for further upside potential.

PCU

When it’s time to make a new trade, you’ll be the first to know. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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