Take FCX Profits

Bump AGU Entry Price, Enter TIE

By Bryan Bottarelli
Thursday, July 19, 2007 1:06 PM EDT
Thu, 19 Jul 2007 17:06:00 GMT

Dear Bottarelli Research Member,

Our play on Freeport-McMoRan Copper & Gold (FCX – NYSE) is delivering exactly as expected. The FCX August 95 Calls (FCX HS) that we entered this morning for $5.50 are now trading for $6.50, which is good for a quick 18% winner. While FCX could run higher, let’s take the safe road and lock in our profits now!

FCX

PLAY: Sell your FCX August 95 Calls (FCX HS) at or above $6.30, good for the day.

Also, I don’t think anyone was able to enter the AGU August 45 Calls (AGU HI) at or under $3.70, so let’s go ahead and bump our entry price and pay up to $4.20. If AGU breaks out, we’ll be glad we paid an extra $0.50 to own the calls.

PLAY: Buy the AGU August 45 Calls (AGU HI) at or under $4.20, good for the day.

And I also think it’s time to play Titanium Metals (TIE — NYSE). The worldwide producer of titanium products for aerospace, military, and industrial applications looks to be breaking out above its 50-day moving average — and this could mean strong upside over the next few days. Let’s go ahead and play this move using August calls.

TIE

PLAY: Buy the TIE August 35 Calls (TIE HG) at or under $2.00, good for the day. Current bid/ask spread is $1.80 to $1.90. Place a protective stop limit at $1.10.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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