Lock In Gains!

Take Profits on NILE, GS & CHL

By Bryan Bottarelli
Wednesday, September 19, 2007 9:44 AM EDT
Wed, 19 Sep 2007 13:44:00 GMT

Dear Bottarelli Research Member,

After yesterday’s fantastic trading day, the markets are once again opening the day with a strong gain — so let’s begin taking some of our call profits off the table. If you were quick enough to enter the NILE October 90 Calls (JWU JR), let’s try to sell them today at or above $9.90 per contract. This would be a nice 33% gainer, so let’s enter this order now.

NILE


PLAY: Sell your NILE October 90 Calls (JWU JR) at or above $9.30, good for the day.

Also one the move is your GS October 200 Calls (GPY JT). As you know, Goldman reports earnings tomorrow, but I can’t ignore a 45% gainer, so if you’re a more conservative trader, go ahead and lock in your gains now. If you’re a more speculative trader, I recommend talking HALF of your profits now and letting the remaining half of the position ride into tomorrow. That way, you can lock in some gains now and hold out for a home-rum winner come earning time.

GS

PLAY: Sell your GS October 200 Calls (GPY JT) at or above $11.90, good for the day. Speculative traders, hold half of your position into earnings.

Your CHL October 70 Calls (CHL JN) are also on the move, so let’s go ahead and lock in this gain as well. You entered this play on 9/14/2007 for $3.90 and these calls are now trading above $5.00, so let’s lock in this gain too!

PLAY: Sell your CHL October 70 Calls (CHL JN) at or above $5.00, good for the day.

Continue to hold your UA October 65 Calls (UA JM), and if you adhered to your stop loss and closed out your PSA October 75 Puts (PSA VO), that was a safe and smart play. If you’re still holding this position, it’s time to close it off now.

I’ll be out later today with further updates, but for now, congratulations on your gainers –and as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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