RIMM is Rockin!
Lock in HALF Gains Now
Dear Bottarelli Research Member,
Despite the fact that the Dow has open over 130 points lower, shares of Research In Motion (RIMM – NASDAQ) continue to blast higher. As I write, the stock has just hit a new 52-week high at $133.64, which has pushed your RIMM November 130 Calls (RUL KV) up to a high of $6.80 on the day. That’s a respectable 19% gain off Monday’s entry price, but I’d like to maximize these returns as much as possible. After all, today’s new 52-week high signals more upside to come. And like one member told me yesterday, all it takes is one strong tech announcement (like Cisco after the bell today) and RIMM can pop another $10.00 in the blink of an eye.
Now, having said that, it’s always a good idea to be fiscally responsible — especially in a market that rallies 117 points yesterday and then drops 130 at the open of trading today. In a super-choppy environment like this, we should always be looking to take fast profits off the table, so here’s what I’d like to do. If you’re a more conservative trader, then I’d like you to sell HALF of your RIMM calls right now. That way, you’re locking in a slight gain — but you’re also holding the second half of your position for further upside gains. As always, I’ll continue to follow the position throughout, but it might be a good idea for the more conservative traders to lock in some of your profits here.
PLAY: Sell HALF of your RIMM November 130 Calls (RUL KV) at or above $6.60, good for the day. Hold the second half of the position for more gains.
Let’s also continue to hold your POT November 120 Calls (PYP KD). These calls have traded high as $5.60 today, so we’re one up-move away from taking a nice winner on this position as well. Not too bad for a big market down-day! The moment it’s time to take further action, you’ll be the first to know. Until then…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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