Take KSS Profits!

Maintain DUG and QLD

By Bryan Bottarelli
Tuesday, December 02, 2008 9:56 AM EST
Tue, 2 Dec 2008 14:56:00 GMT

PLAY: Sell your KSS December 30 Puts (KSS XF) at or above $3.10, good for the day

Dear Bottarelli Research Member,

Good morning. After another crushing loss on the major market averages, it looks like we’re certainly in for another dip under the 8,000 level on the Dow. Therefore, we’ll be sure to maintain our downside bias using our series of current put plays.

INDU

In terms of our DUG December 34 Calls (DZG LH) and the remaining put side of our QLD December 22 Straddle, let’s continue to hold both positions for more upside. But when it comes to the KSS December 30 Puts (KSS XF), let’s go ahead and lock in our profits. As you know, we entered these puts yesterday for $2.35, and as I write, they’ve traded as high as $3.20, good for a quick 36% gainer. Let’s lock it in now!

PLAY: Sell your KSS December 30 Puts (KSS XF) at or above $3.10, good for the day.

As always, I’ll be out with further updates as the day progresses. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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