Action Alert: Take HALF Profits on VZ
Lock in 49% Gainer
PLAY: Sell HALF of your Verizon April 30 Puts (VZ PF) at market, good for the day. Hold the remaining half for more upside.
Dear Bottarelli Research Member,
Our decision to add to the Verizon April 30 Puts (VZ PF) on January 11th was right on the money. After extensively studying the chart, I was convinced that the upside push that occurred at the beginning of 2009 was nothing more than a false breakout. That’s why I told you to maintain the position. In fact, we even added to our puts to support the bearish thesis. And today, that hubris is paying off. See below:
As I write, shares of Verizon have broken aggressively below their critical support level at the 50-day moving average. This could be the beginning of a sharp fall. But sticking to our trading rules, this breakdown has handed us a very quick 49% gain off our average entry price of $2.54. Therefore, with these puts now trading as high as $3.80, let’s go ahead and lock in HALF of our profits now!
PLAY: Sell HALF of your Verizon April 30 Puts (VZ PF) at market, good for the day. Hold the remaining half for more upside.
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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