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IVGN None

New Calls

Invitrogen - IVGN - close: 74.98 change: 1.71 stop: 71.49

Company Description:
Invitrogen Corporation provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, bioinformatics and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen is headquartered in Carlsbad, California and conducts business in more than 70 countries around the world. The company globally employs approximately 4,500 scientists and other professionals and had revenues of more than $1 billion in 2004. (source: company press release)

Why We Like It:
Overall we remain mostly bearish on stocks with the major averages still in an intermediate downtrend. However, IVGN looks like one of the exceptions. The stock has been very resilient and avoided most of the market's weakness these past few months. Instead shares of IVGN have consolidated sideways after breaking its multi-month bullish trend in late March. The company's recent earnings report was positive and the company guided higher for 2005. Now shares are on the verge of breaking out over resistance at the $75.00 level. We also like IVGN's bullish P&F chart that currently points to an $85.00 target. Please keep in mind that any significant market downturn will weigh on, stall and possibly reverse IVGN's advance. Yet if the markets continue to bounce or merely chop sideways then IVGN can keep climbing. Our strategy is to use a trigger to confirm IVGN's bullish breakout over the $75 level. Our entry point will be $75.51. Our short-term target is the $80 level. Our time frame is about six weeks.

Suggested Options:
We are suggesting the June calls although Mays and August strikes have more open interest.

BUY CALL JUN 70.00 IUV-FN OI=175 current ask $6.70
BUY CALL JUN 75.00 IUV-FO OI=501 current ask $3.40
BUY CALL JUN 80.00 IUV-FP OI=154 current ask $1.35

Picked on May xx at $ xx.xx
Change since picked: 0.00
Earnings Date 04/28/05 (confirmed)
Average Daily Volume = 888 thousand
 

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