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Mettler Toledo - MTD - cls: 97.57 chg: -0.82 stop: 99.11

Company Description:
METTLER TOLEDO is a leading global supplier of precision instruments and services. The Company is the world's largest manufacturer and marketer of weighing instruments for use in laboratory, industrial and food retailing applications. (source: company press release or website)

Why We Like It:
The bullish trend in MTD appears to be in trouble. Momentum has stalled and the stock has been stuck in a trading range since late April. Currently MTD looks poised to breakdown under support near $97.00. We're suggesting a trigger to buy puts at $96.75. There is potential support at the bottom of the gap from late April so more conservative traders may want to wait for a decline under $95.00 before initiating positions. Our target is the $90.50-90.00 range. Traders will also need to keep an eye on the 100-dma, near $92.60, as possible support. FYI: The P&F chart is still very bullish and won't turn bearish until MTD trades under $96.00.

Suggested Options:
We are suggesting the July or October puts. August strikes would work but they just became available today and there is no open interest.

BUY PUT JUL 100.0 MTD-ST open interest=33 current ask $3.70
BUY PUT JUL 95.00 MTD-SS open interest=10 current ask $1.30


BUY PUT OCT 100.0 MTD-VT open interest= 1 current ask $5.50
BUY PUT OCT 95.00 MTD-VS open interest=20 current ask $3.30

Picked on June xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 07/26/07 (unconfirmed)
Average Daily Volume = 215 thousand

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