Good Morning: Take Profits!

Lock in Gains on POT, FCX & MA

By Bryan Bottarelli
Friday, October 26, 2007 9:42 AM EDT
Fri, 26 Oct 2007 13:42:00 GMT

Dear Bottarelli Research Member,

There are a handful of events that happen in life that I absolutely love. Getting dealt pocket aces in my neighborhood poker game is one of them. Watching the Chicago Bears win on Sunday is another. And of course, taking profits on a Friday ranks very high on this list as well!

With the markets opening the day stronger, it’s anyone’s guess what’ll occur throughout the rest of the session. And since we’re seeing very nice early strength in Freeport-McMoRan Copper & Gold (FCX – NYSE), Potash Corp. of Saskatchewan (POT – NYSE), and Mastercard Incorporated (MA – NYSE), let’s lock in gains on our call positions now!

PLAY: Sell your POT November 115 Calls (PYP KC) at or above $7.30, good for the day (*this is the fastest 56% gain we’ve seen in weeks!)

PLAY: Sell your MA November 155 Calls (MAL KK) at or above $9.10, good for the day.

PLAY: Sell your FCX November 115 Calls (FCX KC) at or above $5.20, good for the day.

Also, if you didn’t get a chance to sell your FWLT November 155 Calls (UFG KK) yesterday, then you’re getting a second opportunity this morning. Lock in these gains as well. And on the flipside, we’re seeing strength extend into Bear Stearns Companies (BSC – NYSE), so let’s trim our downside exposure and close off your BSC November 110 Puts (BVD WB).

I’ll be out later with further updates, but until then:

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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