Take FWLT Profits

Lock in 17% Gainer

By Bryan Bottarelli
Tuesday, March 25, 2008 3:12 PM EDT
Tue, 25 Mar 2008 19:12:00 GMT

PLAY: Sell your FWLT April 55 Calls (UFB DK) at or above $5.50, good for the day.

Dear Bottarelli Research Member,

As we head into the close of today’s trading, we’re seeing an indecisive market. The bulls are trying to decide whether or not they can extend upon the last two days of gains — and the bears are trying to decide if its’ time to step in and sell off the latest rally. All the while, we’re nicely positioned in a series of upside calls on FWLT and DRYS combined with puts on the DIA. Whatever the final decision happens to be, we’ll be prepared to profit off it.

Now, after taking a very nice gain today on STP, I’d like to follow up and lock in gains on our FWLT April 55 Calls (UFB DK). As you know, we entered these calls on March 24th for $4.70 per contract with a pre-determined “sniper sell” target at $5.70. As I write today, these calls have traded as high as $5.69 on the day, a mere one-cent away from our sniper selling price. In cases like this, I do not want to let one penny stop us from locking in a profit, so let’s go ahead and take our FWLT gains now!

PLAY: Sell your FWLT April 55 Calls (UFB DK) at or above $5.50, good for the day.

At the same time, maintain your DRYS April 65 Calls (DQR DM) with a pre-determined sell price at $5.60. Congrats on two nice winners on STP and FWLT today. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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