Take GS Profits

Lock in Another Modest Gainer

By Bryan Bottarelli
Friday, August 21, 2009 10:47 AM EDT
Fri, 21 Aug 2009 14:47:00 GMT

PLAY: Sell your GS September 165 Calls (GPY IM) at market, good for the day.

Dear Bottarelli Research Member,

I must admit, today’s expiration-day rally has really caught a lot of people off guard. For the fourth straight day, the major market averages have put in a strong rally. Let’s use this upside to lock in gains on our GS September 165 Calls (GPY IM). Ring the register now!

PLAY: Sell your GS September 165 Calls (GPY IM) at market, good for the day.

This will leave us with a ledger that’s all in short positions. With the Dow at a resistance level at 9,500, I’d like to see how the remainder of the day plays out. Oil prices are at their 2009 highs, which could induce selling pressure. On any pullback (similar to what we saw on Monday), we’ll be in fine shape. So for now, let’s maintain our downside plays. And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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