Oil Up $24.00?!

Aggressive Move Sparks Commodities

By Bryan Bottarelli
Monday, September 22, 2008 2:34 PM EDT
Mon, 22 Sep 2008 18:34:00 GMT

Dear Bottarelli Research Member,

In one of the most amazing single-day moves in history, crude oil is currently trading up over $24.00. Unreal. This single-day moon-shot is offering a boost to the entire commodities sector, which makes our plays this morning on DBA and GLD look like smart moves. In particular, the GLD October 87 Calls (GLD JI) that we entered this morning for $4.90 have now traded as high as $5.90, good for a quick 21% gainer. Let’s hold this position for more upside.

GLD

At the same time, our other two plays from earlier today are looking good as well. The SDS October 71 Calls (SBJ JS) that we entered for $3.40 have now traded as high as $3.70, and the DBA November 33 Calls (DBA KG) that we entered for $2.40 have traded as high as $2.60. Maintain all of these positions for more upside. At the same time, also maintain your KMB October 65 Calls (KMB JM) and your TSO October 20 Calls (TSO JD), both of which offer us upside exposure should we experience a counter-move tomorrow. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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