Pre-Market Alert: Take GS Profits

Lock in Overnight Gainer

By Bryan Bottarelli
Tuesday, October 30, 2007 9:07 AM EDT
Tue, 30 Oct 2007 13:07:00 GMT

Dear Bottarelli Research Member,

On the eve of tomorrow’s Fed meeting, I continue to feel that a strong market reaction will continue to push shares of Goldman Sachs Group (GS – NYSE) higher. After all, GS is by far the strongest of the broker group, you can clearly see by yesterday’s new 52-week high.

GS

Now, despite the fact that GS could continue blasting higher, we also must be fiscally responsible. After all, the GS November 250 Calls (GPY KA) that we entered yesterday for $3.90 traded as high as $6.00 in yesterday’s action, good for an overnight of 53.8%. I simply cannot witness a profit like this without recommending that you take the money off the table, so that’s exactly what we’re going to do today. At the open of today’s trading, let’s lock in your GS profits!

PLAY: At the open of today’s trading, sell your GS November 250 Calls (GPY KA) at market, good for the day. Since I can’t accurately anticipate today’s opening prices, try to get the best fill prices that you possibly can.

I’ll be out later today with further updates, but until then — congrats on your GS profits. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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