HES Update

Take Off Stop Order

By Bryan Bottarelli
Monday, March 09, 2009 3:12 PM EDT
Mon, 9 Mar 2009 19:12:00 GMT

Dear Bottarelli Research Member,

While most of the oil names are up today, shares of Hess Corp. (HES – NYSE) have reversed and are now trading lower. I do not want to let this anomaly take us out of this position. Therefore, let’s continue to hold our HES March 55 Calls (IGG CK) into the close. In other words, cancel your pre-determined stop limit order at $2.30 for today. If we need to re-establish a protective stop order tomorrow, I’ll let you know. But for now, take it off and continue to hold your HES calls.

At the same time, maintain all of our other positions, as today’s indecisive market action has not really offered too many clues about the next directional move. Therefore, we should expect more choppiness ahead — and we’re currently positioned to ride this choppiness for all it’s worth. And as always,

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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