Another Blood Bath

Take Modest FXI Profits

By Bryan Bottarelli
Friday, July 27, 2007 12:51 PM EDT
Fri, 27 Jul 2007 16:51:00 GMT

Dear Bottarelli Research Member,

Although my posted entry price on the FXI August 135 Puts (FAH TE) is $6.10, I’ve received numerous emails from members saying that they entered for around $5.50. Some members even entered around $4.50 as the extreme volatility at the close caused prices to jump all over the place. So in situations like this, where the entry price levels are all over the map, I think the smartest move is to lock in a profit anywhere you can. And that’s exactly what I’d like to do now. With the markets once again 100 points in the red, the FXI continues to tick lower. Let’s use this weakness to close off this position, take a modest gainer, and call it a week!

FXI

Here’s the trade:

PLAY: Sell the FXI August 135 Puts (FAH TE) at or above $6.10, good for the day. The high of the day is $6.40. Continued weakness into the close of today’s trading could revisit, or surpass these prices, so be sure to lock in your gains on this weakness.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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