Take AEM Profits!
Lock in 25% Gainer
PLAY: Sell your AEM March 60 Calls (AEM CL) at or above $3.30, good for the day.
Dear Bottarelli Research Member,
The idea of holding gold-related stocks continues to pay off. As I write, shares of AEM are up over $3.00, which has pushed your AEM March 60 Calls (AEM CL) up to a high of $3.30, good for a 25% gainer. Now, as you probably know, we added to this positon around the $2.00 range, so many of you might be sitting on even higher returns. But in terms of our track record, our average entry price will be $2.65. At any rate, let’s lock in the profits now!
PLAY: Sell your AEM March 60 Calls (AEM CL) at or above $3.30, good for the day.
AEM looks poised to break out even more (perhaps past $60.00 per share), but I think it’s smart to lock in our profits now. If we see a dip in gold prices, we can always jump back into an upside call play. In fact, a London gold dealer said this morning that his clients are “still flooding” into the gold markets, with over 400,000 ounces added to the SPDR Gold EFT in New York. At the same time, Bloomberg is reporting that the People’s Bank of China is growing tired of U.S. Treasuries, which signals that they could soon be buyers of gold as well. All this is bullish for the yellow metal, so I’ll continue to closely follow names like IAG, ABX, NEM, and AEM for more trading opportunities.
At the same time, our three other positions are looking strong as well. FedEx still has room to move lower, so maintain your FDX March 50 Puts (FDX OW). The same goes for our DUG March 25 Calls (DUG CY) and DV March 60 Calls (DV CL). Should anything come up, you’ll be the first to know. Until then…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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