Close Out JOYG

Lock in Modest Profits

By Bryan Bottarelli
Monday, May 19, 2008 1:14 PM EDT
Mon, 19 May 2008 17:14:00 GMT

Dear Bottarelli Research Member,

I’m not going to lie: I’m getting a little annoyed with the moves of Joy Global (JOYG – NASDAQ). Despite today’s strong market upside, shares of JOYG have barely eked out a new 52-week high at $82.48. While this new high does extend the bullish forecast on JOYG, the fact that the stock isn’t advancing more on a strong market day like today is slightly concerning. Therefore, let’s go ahead and lock in the small profits that we do have and move onto bigger and better things. After all, our money can be better put to work in other plays, so let’s close out the position with modest profits in hand now.

PLAY: Sell your JOYG June 80 Calls (JQY FP) at or above $5.50, good for the day.

At the same time, your WFT June 90 Calls (WFT FR) are looking good, as they’ve already gained 15% since this morning’s entry. Continue to hold this position for more gains.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

© 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.


Other Options Alerts From May 2008