Take WFT Profits

Maintain PCU and JOYG

By Bryan Bottarelli
Friday, May 16, 2008 9:41 AM EDT
Fri, 16 May 2008 13:41:00 GMT

PLAY: Sell your WFT June 90 Calls (WFT FR) at or above $4.00, good for the day.

Dear Bottarelli Research Member,

Let’s close off the week by locking in some profits!

We’re getting another explosive upside move in the oil service sector, as names like RIG, DO, and WFT are continuing their aggressive moves. This is great for our WFT June 90 Calls (WFT FR), which have traded as high as $4.10 today. This officially triggers our pre-determined sniper sell at $4.00, so if you haven’t already done so, lock in your profits now!

PLAY: Sell your WFT June 90 Calls (WFT FR) at or above $4.00, good for the day.

At the same time, maintain your $7.50 sniper sell on your PCU June 115 Calls (PCU FC). These calls traded as high as $7.00 today, so we’re getting close to locking profits on this position as well.

Also, continue to maintain your JOYG June 80 Calls (JQY FP).Today’s new 52-week high at $81.26 points to continued upside moves. If you recall, we entered these calls for $5.20 and they’ve traded as high as $5.80 in today’s action. If these calls trade at or above $6.00, let’s go ahead and lock in our profits!

PLAY: Sell your JOYG June 80 Calls (JQY FP) at or above $6.00, good for the day.

I’ll be out later with further updates, but until then

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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