Take NTES Profits!

Lock in 26% Gainer

By Bryan Bottarelli
Wednesday, July 15, 2009 9:42 AM EDT
Wed, 15 Jul 2009 13:42:00 GMT

PLAY: Sell your NTES August 35 Calls (NGH HG) at market, good for the day.

PLAY: Buy the AEM August 55 Calls (AEM HK) at or under $2.90, good for the day. Place a protective stop limit at $1.30 and a pre-determined sniper sell at $5.00.

Dear Bottarelli Research Member,

Good morning. First and foremost, with the major market averages jumping out of the gates, let’s go ahead and lock in profits on our NTES August 35 Calls (NGH HG). As you know, we entered these calls for $2.30, and they’ve now traded as high as $2.90, good for a 26% gainer. This was our pre-determined sell price from yesterday, so congratulations on this winner. If you haven’t already done so, lock in these profits now!

PLAY: Sell your NTES August 35 Calls (NGH HG) at market, good for the day.

At the same time, both AIG and MS are opening only fractionally higher today, so let’s maintain both put plays. But just to reload the call side of our ledger, I’d like to take advantage of the downside move in gold prices to add August calls on Agnico Eagle Mines (AEM – NYSE).

AEM

As you can see, AEM has recently dropped from $62.50 down to $47.50 – but is now showing signs of recovering smartly off the 200-day moving average. Let’s play this bounce using August calls now. Here’s the play…

PLAY: Buy the AEM August 55 Calls (AEM HK) at or under $2.90, good for the day. Place a protective stop limit at $1.30 and a pre-determined sniper sell at $5.00.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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