Closing Notes

Place $7.00 Sell on MON

By Bryan Bottarelli
Wednesday, November 26, 2008 3:29 PM EST
Wed, 26 Nov 2008 20:29:00 GMT

Dear Bottarelli Research Member,

Going into the final hour of trading, we have a four-day winning streak on the Dow. If you don’t believe me, then see for yourself below!

INDU

And as strange as it sounds, we anticipated this rally with amazing perfection. In preparation for this rally, for example, we got positioned in MON December 75 Calls (MON LO), FCX January 22.5 Calls (FCX AX), and GDX January 23 Calls (GBJ AW). As of this afternoon, we’ve sold off two out of these three plays for winners. The final upside play we’re holding is the MON calls, and they’re finally breaking into the profit zone now. Just as a precautionary measure, let’s go ahead and place a sell order at $7.00, good until cancelled. This way, we’ll lock in profits if the market pops even higher on Friday’s half-day — which I actually expect to happen!

MON

If we trigger a sell on our MON calls, this will leave us holding only the put side of our QLD December 22 Straddle. I’m still comfortable with this play, because I think we’ll see more selling pressure next week.

QLD

So until further notice, I’ll sign off for the week. And on that note, I sincerely wish you a warm and rewarding holiday weekend. Enjoy your time with friends and family, and we’ll continue trading on Monday. Blessings to you and your family. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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