Take Apple Profits!
Being Nimble As Volatility Continues
Dear Bottarelli Research Member,
Yesterday was yet another +200 point sell-off on the Dow. And this morning, we’re back up 100 points. So without question, the intense market volatility is still in full force — and from a chart perspective — the picture doesn’t look good. As you can see, ever since the Dow dipped underneath the 200-day moving average, the red candlestick formations have been clearly longer that the white candlestick formations.
This tells you that the bears are in control — at least here in the near term. So, as a result of this intense intra-day volatility, I’d like to get even more nimble when it comes to taking profits off the table. After all, in a market like this, I don’t want to mess around with profits that we have in hand. We need to see profits and take profits without looking back. Right now, that’s the only way to trade. So in that spirit, let’s go ahead and lock in gains on our Apple December 175 Calls (APV LO).We’re holding these calls with a $7.45 cost basis and they’ve traded as high as $9.00 today, so lock in these profits now!
PLAY: Sell your Apple December 175 Calls (APV LO) at or above $8.70, good for the day.
From a tactical perspective, I still think Apple is going to move higher. Therefore, we can always re-enter this Apple position on any dips, but for now, the most fiscally responsible thing to do is to lock in our gains.
At the same time, let’s continue holding our LEH December 60 Puts (LES XL). We initiated these puts yesterday for $4.60 and they’ve traded as high as $5.20 today, so let’s maintain this position for more gains.
Let’s also continue holding our POT December 110 Calls (PYP LB). We entered these calls yesterday for $7.80 and they’ve traded as high as $7.30 today, so let’s continue holding this one as well.
And finally, the EXQ December 150 Calls (EXQ LJ) that we entered for $5.70 have now come back down to our buy range. As I write, they’re trading between $5.80 and $5.90, so if they dip in price a little more, you may consider adding them to your ledger.
If we see this opening-session market strength begin to fade, I may come out with another December put play. But until then…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
Information, opinion, research, and commentary contained herein is obtained from sources believed to be reliable; their reliability, however, cannot be guaranteed. The maxim of Caveat Emptor applies — let the buyer beware. Bottarelli Research does not provide individual investment advice, act as an investment advisor, or individually advocate the purchase or sale of any security or investment.
Investments recommended in this service should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Bottarelli Research reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscriber’s initials will be used unless express written permission has been granted to the contrary.
CSR Group, LLC expressly forbids its writers from having a financial interest in any security recommended to readers. Furthermore, all employees and agents of CSR Group, LLC and its affiliate companies must wait 24 hours before following a published recommendation.
Bottarelli Research alerts contain time-sensitive information, and are published and distributed to members with urgency. Because of this, not all published materials can be adequately proofread, and an occasional spelling or grammar error may exist.
Add FXI Puts
Mid-Day Update
Take FXI Profits
Play POT Calls
Pre-Market Alert
An Aggressive Play
Take CHL Profits!
Take INFY Profits!
5 Possible “Gift Gaps”
RIMM is Rockin!
POT is Rockin Too!
Play PCU Calls
Add CHL Puts
It’s Getting Ugly
The 200-Day Test
Add AZO Puts
Take CHL Profits!
Take AZO Profits
Play ICE Puts
Take ICE Profits
Play MOS Puts
I Don’t Trust It
Cancel AAPL, Play GRMN
A Speculative GS Play
Pre-Market Alert: Lock in GS & GRMN Profits!
Two New Puts
Good Morning, Take Profits!
Two New Calls
Add PCP Puts
Add to Apple
Take JASO Profits!
A Speculative Call Play
Dooms-Day for CHL?
Take PCP Profits
Take VMW Profits!
Play EXQ Calls
A Moment of Thanks
Add LEH Puts
Play POT Calls
Watching AMZN
Take Apple Profits!
Add DO Puts
Take POT Profits!
Addressing the Rally
Add CMG Calls
Take CMG Profits!
Add MICC Calls
Another Pop
A Speculative Put Play
