Take U.S. Steel Profits

Lock in Overnight Gainer

By Bryan Bottarelli
Friday, December 14, 2007 9:36 AM EST
Fri, 14 Dec 2007 14:36:00 GMT

Dear Bottarelli Research Member,

Once again, the markets are opening with a substantial loss. But remember, given the tremendous amount of market volatility lately, it wouldn’t surprise me to see the markets turn green by mid-day. Therefore, we must continue to implement our nimble trading tactic of locking in any fast profits — and this leads directly into our play on U.S. Steel (X – NYSE).

In the opening moments of trading, shares of U.S. Steel are once trading to the downside, and this weakness has pushed our U.S. Steel December 110 Puts (X XB) up to high of $5.10 in today’s trading. That’s good for a 15% gain off yesterday’s $4.40 entry price, so let’s lock in these profits now!

PLAY: Sell your U.S. Steel December 110 Puts (X XB) at or above $5.00, good for the day.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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