Closing the Week

Maintain TBT

By Bryan Bottarelli
Thursday, April 09, 2009 3:44 PM EDT
Thu, 9 Apr 2009 19:44:00 GMT

Dear Bottarelli Research Member,

The major market averages pretty much popped at the open of today’s trading — sparked by WFC’s earnings news — and they’ve held onto these levels for all of today’s trading session. As a result, I haven’t uncovered anything worth trading today. After all, most of today’s move came within the first 15 minutes of trading. As you can see from the Dow chart above, the Blue Chips have now reclaimed the 8,000 level — and just inched above last week’s high.

INDU

So going into a long market weekend, let’s simply close down the trading ledger for the week. Up until now, we haven’t seen a move above $4.00 on our TBT June 44 Calls (TBT FR), so let’s hold this position going into next week. If investors decide to dump Treasuries and get back into the stock market, we should see more upside in TBT heading into next week.

TBT

We’ll look to start another strong winning streak next Monday. Until then, have a great 3-day market weekend. You certainly deserve it! And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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