One Final Speculative Play

Add DNDN Calls

By Bryan Bottarelli
Friday, April 03, 2009 3:51 PM EDT
Fri, 3 Apr 2009 19:51:00 GMT

PLAY: Buy the DNDN April 5 Calls (UKO DA) at or under $1.85, good for the day. Place a protective stop limit at $0.70 and a pre-determined sniper sell at $3.50.

Dear Bottarelli Research Member,

With minutes before the close of trading, I’d like to make one final and very speculative trade on Dendreon (DNDN – NASDAQ).As you may or may not know, DNDN has a potentially blockbuster drug called Provenge that has been fighting to clear FDA hurdles for years. As you can see from the weekly chart below, when the stock gets upside moment, it can soar. But typically, the upside moves are sold off just as quickly as they begin. This leads us to this afternoon…

DNDN

As I write, shares of DNDN are aggressively breaking out on heavy volume after the American Urological Association said that they’re “saving a seat” at the table for DNDN at their annual meeting later this month. This could mean that DNDN is ready to present their highly anticipated data on Provenge. The details are still unclear at this point, but the DNDN momentum is certainly taking off. As a purely speculative trade, let’s play along using April calls!

PLAY: Buy the DNDN April 5 Calls (UKO DA) at or under $1.85, good for the day. Place a protective stop limit at $0.70 and a pre-determined sniper sell at $3.50.

Have a good weekend. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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