Anticipating the Breakout in CELG

[Steven Place]

Great relative strength over the past few days, and I’m looking for this stock to move to $100 in short order.

Now I don’t think that getting long as the breakout is confirming is going to be the best idea, because there are a lot of eyeballs on this stock. I think it makes sense to buy here in anticipation of the breakout and scale out as the breakout becomes obvious.

Long CELG Nov 95 calls for 4.00

Stop 90.89

Out before earnings.

[Steven Place]

Stop got hit on Friday, I held through the weekend and am now paying for it.

Sell to close CELG Nov 95 Calls for 2.10

[Author]

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