APA Hits Profit Target

Lock In Gains Now!

By Bryan Bottarelli
Thursday, January 17, 2008 10:38 AM EST
Thu, 17 Jan 2008 15:38:00 GMT

Dear Bottarelli Research Member,

I blinked my eyes and the market dropped 90 points. My TV screen (which is tuned to CNBC on mute) shows Ben Bernanke at a podium giving a speech, so I’ll credit the market’s violent downside reaction to some comment that he has already made. Like I told you 15 minutes ago: Short Any Rally. It worked again.

As a result, the APA February 100 Puts (APA NT) that we entered yesterday for $4.48 have traded as high as $5.70 today, good for a 27% gainer. If you haven’t already done so, “snipe” these profits now! Also, your RIG February 125 Put (RIG NE) are showing signs of life, as RIG has given up its early gains and is now facing resistance at its 50-day moving average. Be sure to lock in any forthcoming “sniper” gains on this position as well.

RIG

And for some small upside exposure, I continue to like the GILD February 50 Calls (GDQ BJ). In times of recession, healthcare stocks are the best ways to protect yourself, but that’s too boring for today’s adrenalin-hungry speculators, so they’re all moving into the biotech sector. This should offer a nice boost for GILD, so maintain these cheap calls for any coming pops.

On a side-note, I think we’re getting back into the groove. 2008 has been challenging for everyone, but our new tactical approach looks like a great solution. Congrats on withstanding the early parts of 2008. We’re getting our mojo back and I love it!

Now that we have this marked pegged (from a tactical standpoint) it’s time to lock and load like never before. Game on my friends. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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