Take PCU Profits

Maintain JOYG

By Bryan Bottarelli
Friday, May 16, 2008 2:21 PM EDT
Fri, 16 May 2008 18:21:00 GMT

PLAY: Sell your PCU June 115 Calls (PCU FC) at or above $7.20, good for the day.

Dear Bottarelli Research Member,

For most of the trading session, I’ve been watching shares of PCU slowly and methodically inch their way higher — which has gotten our PCU June 115 Calls (PCU FC) within $0.20 of our pre-determined sniper sell price at $7.50.In cases like this, when we have a 23% gain in hand on a Friday afternoon, I don’t want to get greedy and hold out for the remaining $0.20. Therefore, let’s go ahead and lock in our profits now!

PCU

PLAY: Sell your PCU June 115 Calls (PCU FC) at or above $7.20, good for the day.

At the same time, continue holding your JOYG June 80 Calls (JQY FP), as we came within $0.10 of our $6.00 exit price. Going into the close of today’s trading (or into next week) I think we should be able to get filled at this level.

I also continue to like the idea of owning upside exposure to the top oil drillers. Shares of the OIH have hit a new 52-week high today, and names like DO, RIG, and WFT continue to look like they’re poised for more upside. In fact, I’ve discovered that these names tend to pop up at the open, give back most of their gains in the afternoon, and then once again rally higher into the close. Leading into next week, I may decide to jump right back into one of these companies if the timing signals are right. But in the meantime, have a good weekend — and as always:

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

© 2012 CSR Group, LLC. All rights reserved. Published in USA.

Information, opinion, research, and commentary contained herein is obtained from sources believed to be reliable; their reliability, however, cannot be guaranteed. The maxim of Caveat Emptor applies — let the buyer beware. Bottarelli Research does not provide individual investment advice, act as an investment advisor, or individually advocate the purchase or sale of any security or investment.

Investments recommended in this service should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Bottarelli Research reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscriber’s initials will be used unless express written permission has been granted to the contrary.

CSR Group, LLC expressly forbids its writers from having a financial interest in any security recommended to readers. Furthermore, all employees and agents of CSR Group, LLC and its affiliate companies must wait 24 hours before following a published recommendation.

Bottarelli Research alerts contain time-sensitive information, and are published and distributed to members with urgency. Because of this, not all published materials can be adequately proofread, and an occasional spelling or grammar error may exist.


Other Options Alerts From May 2008