The LEAPS Option Trader
105 W. Monument Street
Baltimore, MD 21201
Monday, March 13, 2006
Email – #306
** Steady As She Goes…
The market’s dynamics still look pretty bad. Advancers are losing the battle against decliners. And there is no follow through on rallies. Our Nasdaq and Target put positions are increasing in value, while our Microsoft calls are holding their own in this volatile market.
Our most recent pick, Boston Scientific, is down a little. I would be concerned if there wasn’t any follow through on insider buying, the basis of the pick, and if we did not have almost two years left on the position. But we have both.
Last week, more insiders bought the shares, and we do have almost two years left. Last night, the company released news about how much more effective their Taxus stent is compared to competitors in clinical trials. The shares and options will be volatile for some time until the Guidant transaction is completed.
Hold tight. I am looking at other opportunities daily, and I will be issuing a new pick soon, most likely at the beginning of next week.
Regards,
Karim Rahemtulla
