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INITIAL JUNE 2008 MONTHLY CASH MACHINE RECOMMENDATION 5-11-08

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We are going to start the JUNE recommendations off with the following:

We are recommending credit spreads in the following issues:

The following three (3) issues are for our Equity portfolio

IART - Integra LifeSciences Corp. develops, manufactures and markets medical devices, implants and biomaterials primarily used in the treatment of burns and skin defects, spinal and cranial disorders, orthopedics and other surgical applications. Integra seeks to be the world's leading company specializing in implantable medical and biopharmaceutical therapies to target and control cell behavior, and to build shareholder value by acquiring, discovering, and developing cost-effective, off-the-shelf products that satisfy unmet medical needs.



COMMENTARY:

The high medical cost and the change in guidance for many in the sector leads me to conclude the revenue picture, to no ones surprise, isn't going to be the most rosey going forward, at least not for the next few quarters

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LAZ - Lazard
is a preeminent international financial advisory and asset management firm that has long specialized in crafting solutions to the complex financial and strategic challenges of their clients. They serve a diverse set of clients around the world, including corporations, partnerships, institutions, governments and high-net-worth individuals.




COMMENTARY:

The investment community across the board will feel the effects of the business spending slowdown as the demand for services across the board will be threaten by this decrease in demand. Even the solutions to complex investment challenges will be scrutinized more closely regarding to future expenditures


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ITG - Investment Technology Group
is one of the leading providers of technology-based equity trading services and transaction research to institutional investors and brokers. ITG's services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. They offer a fully-integrated family of advanced trading services encompassing three business lines: POSIT, Client-Site Trading Products, and Electronic Trading Desk.



COMMENTARY:

The investment community headaches will trickle down to the sector that helps to increase execution and electronic trading. Margins will be a concern as competition for new revenue will heat up in an environment that already has reservations about opening up its pocketbook in this current economic downturn

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The following issue is for our Index, Holder, ETF Portfolio

^BKX - KBW Bank Index(Philadelphia: ^BKX)



COMMENTARY:

Some say the banks are almost out of the woods, but everyday we keep getting a surprise, "By the way, we have another $$$$$ write down". It is getting old. If you think they are coming out of the woods you may be half way right. I think the banks have a little more pain to take before the bottom and therefore I don't see a drastic turnaround in the next option cycle for sure. Do you?


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We are recommending the following specific credit spreads for the Equity Portfolio

Call credit spreads - bearish call spreads

IART $40.63

BUY UJI-FJ IART JUN $50.00 CALL DEBIT = $0.25
SELL UJI-FI IART JUN $45.00 CALL CREDIT= $0.60
NET CREDIT = $0.35

INITIAL "NET- CREDIT TARGET= $0.35 or $35.00
POTENTIAL PROFIT (x 10 CONTRACTS @ $0.35 = $350.00
MARGIN REQUIRE. (x 10 CONTRACTS $4,650.00
RETURN ON INVESTMENT= 7.53%

EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE
1. STOCK WILL BE PLACED ON WATCH LIST IF STOCK PRICE RISES TO: $42.50
2. EQUITY ISSUES
A STOP LIMIT will be placed on the SHORT STRIKE PRICE on any EQUITY OPTION that has a STRIKE PRICE DIFFERENCE OF $5.00 or MORE.
THE STOP LIMIT ON THIS POSITION IS NOTED BELOW:
BUY POSITION STOP BELOW
UJI-FI EXIT >> = $3.00 STOP LIMIT
If and when the STOP LIMIT IS EXECUTED - A contingency order should be in place to then SELL the LONG SIDE of the Spread and close the position with a Market Order if and when the SHORT side needs to be STOPPED OUT


ITG $40.45

BUY ITG-FJ ITG JUN $50.00 CALL DEBIT = $0.20
SELL ITG-FI ITG JUN $45.00 CALL CREDIT= $0.65
NET CREDIT = $0.45

INITIAL "NET- CREDIT TARGET= $0.45 or $45.00
POTENTIAL PROFIT (x 10 CONTRACTS @ $0.45 = $450.00
MARGIN REQUIRE. (x 10 CONTRACTS $4,550.00
RETURN ON INVESTMENT= 9.89%

EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE
1. STOCK WILL BE PLACED ON WATCH LIST IF STOCK PRICE RISES TO: $42.50
2. EQUITY ISSUES
A STOP LIMIT will be placed on the SHORT STRIKE PRICE on any EQUITY OPTION that has a STRIKE PRICE DIFFERENCE OF $5.00 or MORE.
THE STOP LIMIT ON THIS POSITION IS NOTED BELOW:
BUY POSITION STOP BELOW
ITG-FI EXIT >> = $3.00 STOP LIMIT
If and when the STOP LIMIT IS EXECUTED - A contingency order should be in place to then SELL the LONG SIDE of the Spread and close the position with a Market Order if and when the SHORT side needs to be STOPPED OUT

LAZ $35.86

BUY LAZ-FI LAZ JUN $45.00 CALL DEBIT = $0.30
SELL LAZ-FH LAZ JUN $40.00 CALL CREDIT= $0.75
NET CREDIT = $0.45

INITIAL "NET- CREDIT TARGET= $0.45 or $45.00
POTENTIAL PROFIT (x 10 CONTRACTS @ $0.45 = $450.00
MARGIN REQUIRE. (x 10 CONTRACTS $4,550.00
RETURN ON INVESTMENT= 9.89%

EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE
1. STOCK WILL BE PLACED ON WATCH LIST IF STOCK PRICE RISES TO: $37.50
2. EQUITY ISSUES
A STOP LIMIT will be placed on the SHORT STRIKE PRICE on any EQUITY OPTION that has a STRIKE PRICE DIFFERENCE OF $5.00 or MORE.
THE STOP LIMIT ON THIS POSITION IS NOTED BELOW:
BUY POSITION STOP BELOW
LAZ-FH EXIT >> = $3.00 STOP LIMIT
If and when the STOP LIMIT IS EXECUTED - A contingency order should be in place to then SELL the LONG SIDE of the Spread and close the position with a Market Order if and when the SHORT side needs to be STOPPED OUT


We are recommending the following specific credit spread for the Index, Holder, ETF Portfolio


^BKX $81.03

BUY BJC-FS ^BKX MAY $95.00 CALL DEBIT = $0.50
SELL BJC-FR ^BKX MAY $90.00 CALL CREDIT= $0.90
NET CREDIT = $0.40

INITIAL "NET- CREDIT TARGET= $0.40 or $40.00
POTENTIAL PROFIT ( X 10 CONTRACTS @ $0.40 = $400
MARGIN REQUIRE. 10 CONTRACTS $4,600
RETURN ON INVESTMENT= 8.70%

EXIT STRATEGY = 1. WATCH LIST 2. MAXIMUM LOSS SPREAD PRICE DIFFERENCE $5.00
1. INDEX WILL BE PLACED ON WATCH LIST IF INDEX PRICE RAISES TO: $85

DIFFERENCE IN THE STRIKE PRICES WILL BE OUR MAXIMUM EXPOSURE - WE WILL NOT USE STOPS ON THOSE POSITIONS. THEY WILL GO ON THE WATCH LIST AND BE FOLLOWED WITH INSTRUCTIONS AS TO HOW TO PROCEED OR/WHAT EXIT POINT NEEDS TO BE ESTABLISHED



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