Just What We Wanted!

AXP and DO Trigger, PSA Pending

By Bryan Bottarelli
Thursday, December 14, 2006 3:23 PM EST
Thu, 14 Dec 2006 20:23:00 GMT

Dear Bottarelli Research Member,

This is exactly what I wanted to see on today’s close.

Shortly after issuing the “take profits” alert on AXP, DO, and PSA, two out of the three plays triggered — locking in gains of 34.15% and 20.37%. Add that to the perfectly-timed sell of our FDX puts this morning (good for another 15.38% gainer) and that all makes for a very nice day of trading. Just look at these beautiful stock charts, staring with American Express (AXP – NYSE).

AXP

As I expected, the ability of AXP to break past its recent high at the $60 level meant a quick burst of upside momentum — which handed you a wonderful one-day gain on your AXP January 60 Calls (AXP AL).

Not to be outdone, today’s oil data has allowed Diamond Offshore Drilling (DO – NYSE) to break to the upside, which triggered our $6.50 sell on the DO January 80 Calls (DO AP).

DO

That leaves us working a $3.40 sell on our PSA March 100 Calls (PSA CT).Once again, we’re flirting with another profitable trade here, astoday’s high is $3.30, a mere $0.10 away from our profit zone. Maintain your $3.40 sell order for the rest of the week.

PSA

And then there’s today’s other upside play in navigational-technology maker Garmin (GRMN – NASDAQ).

As I write, the Garmin January 55 Calls (GQR AK) that you entered for $1.70 are trading for $1.80, so we’re also showing a slight profit there as well. If you’d like to set a pre-programmed sell order on these calls, go ahead and set a sell at $2.25, good until cancelled. That would give you a 32.35% gainer on this play.

GRMN

A quick administrative note: There will be no trading alerts tomorrow as I’ll be traveling to Baltimore for my company’s annual Christmas party. So set your sell orders on your open positions and we’ll be back in touch on Monday. Once again, congrats on a great day of trading — and as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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