Take PBR Profits!

Lock in Another Sweet 20% Gainer

By Bryan Bottarelli
Wednesday, December 05, 2007 3:02 PM EST
Wed, 5 Dec 2007 20:02:00 GMT

Dear Bottarelli Research Member,

As expected, shares of Petroleo Brasileiro (PBR – NYSE) have continued to move higher throughout the day. Based on the trading subsequent to our buy alert, you should have been able to easily enter the PBR December 100 Calls (PMJ LT) at or under our listed buy range. And as I’m writing this alert, these calls just traded as high as $6.60, good for a nice 20% to 22% gainer. Similar to my feelings on MICC and TEF, I still feel that PBR could move higher, but let’s once again take the cautions approach and lock in our profits now!

PBR

PLAY: Sell your PBR December 100 Calls (PMJ LT) at or above $6.40, good for the day.

If these prices do not trigger by the end of the day, then continue to hold the PBR position into tomorrow. After all, if you happened to notice shares of CME today, then it’s sometimes a good idea to hold onto positions a little longer.

And speaking of MICC (from the first paragraph above), the stock just hit a new 52-week high at $126.26, so anyone still holding the MICC December 125 Calls (CQD LE) is getting a second exit opportunity at our $6.10 profit level. And also, continue to hold your CG January 90 Calls (CG AR) and your MOS December 75 Calls (MOS LO) for more upside.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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