Move on ABX
Add March Calls Now
PLAY: Buy the ABX March 37.5 Calls (ABX CU) at or under $3.70, good for the day. Place a protective stop limie at $1.60 and a pre-determined sniper sell at $5.50.
Dear Bottarelli Research Member,
After a four-day winning streak, the major market averages are making a strong downturn. And as you can see from the Dow chart below, this morning’s failure is coming below the 50-day moving average. From a technical perspective, this is not an encouraging sign. After all, the major market averages just bounced off the 8,000 level by putting in a strong 4-day rally. But even after showing four straight days of gains, the benchmark averages could not break through their resistance levels — and now those gains could be quickly wiped out.
Therefore, it’s once again time to move on gold stocks. As you can see from the chart of Barrick Gold (ABX – NYSE), the stock has come right down to the support level at the 200-day moving average — and it’s finding a great deal of support. Therefore, I think the next move on ABX will be a strong upside push. Let’s profit off this move using March calls now.
PLAY: Buy the ABX March 37.5 Calls (ABX CU) at or under $3.70, good for the day. Place a protective stop limie at $1.60 and a pre-determined sniper sell at $5.50.
Also, let’s continue to hold our FLR February 40 Puts (FLR NH).As you can see from the chart below, the stock is still stuck under its 50-day moving average, and that paints a bearish picture going forward. Let’s hold these calls for more downside.
I’ll be out with further updates as the day progresses. But until then…
Lock and load!
Sincerely,
© 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.
Two Plays to Kick off 2009
A Speculative Play
One Final Play
Afternoon Update
Take AZO Profits
Add V Puts
Take Visa Profits!
Add to LVS & JASO
Add VAR Puts
Morning Update
Add BG Puts
Opportunities Abound
VAR’s Surprise
Take KSS Profits
Make A Move on MON & ABX
Take BG Profits!
Add MTB Puts
Take MTB Profits
Add RTH Puts
A Speculative Play
Take ESI Profits!
Take ABX and MON Profits
Add MOS Calls
Take MOS Profits!
Take ABX Profits!
Add AEM Calls
Add MHK Puts Now
Two New Plays
Position Update
Ready to Strike
Take AEM Profits
Take HES Profits
Take MOS Profits!
Mid-Day Update
Add CLF Calls
Add OIH Calls
One Good, One Bad
Move on ABX
Add TBT Calls
Take ABX Profits!
A Pending Breakdown?
Add AEM Calls
