Take CHL Profits!

Lock in Quick 25%

By Bryan Bottarelli
Thursday, April 16, 2009 10:13 AM EDT
Thu, 16 Apr 2009 14:13:00 GMT

PLAY: Sell your CHL May 50 Calls (CHL EJ) at or above $1.50, good for the day.

Dear Bottarelli Research Member,

Good morning. The Chinese momentum play that we made yesterday is continuing to rise this morning, as the CHL May 50 Calls (CHL EJ) that we entered for $1.25 have ticked up to $1.65 today, good for an overnight gain as high as 32%. Let’s take the safe and cautious approach and lock in these profits now!

CHL

PLAY: Sell your CHL May 50 Calls (CHL EJ) at or above $1.50, good for the day.

At the same time, shares of AEM have moved below their 200-day moving average support point, which is something that I did not expect. As a result, our AEM May 50 Calls (AEM EJ) have officially hit our stop price. If you haven’t already done so, close this position now. As a side note, I truly think that gold prices are getting down to fantastic buying levels, so don’t be surprised if we jump back into a gold play soon.

AEM

Also, continue to maintain your HES May 60 Calls (IGG EL), as oil stocks have been very choppy lately. Recently, morning gains have swung into afternoon losses, and vice versa. Therefore, let’s hold these calls in anticipation of an afternoon bounce.

As always, I’ll follow up later in the session with more updates. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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