End of Day Play: Add CSIQ Calls

Plus, Watch AEM

By Bryan Bottarelli
Thursday, September 17, 2009 3:55 PM EDT
Thu, 17 Sep 2009 19:55:00 GMT

PLAY: Buy the CSIQ October 17.50 Calls (GQA JW) at or under $1.75, good for the day. Place a protective stop limit at $0.80 and a sniper sell at $3.00.

Dear Bottarelli Research Member,

Get ready to keep riding the bucking-bronco that is Agnico Eagle Mines (AEM – NYSE). As you know, we added AEM October 70 Puts (AEM VN) at the close of yesterday’s trading, and then we sold them today for a quick 20% gainer. Now, as we head into tomorrow’s open, I’d like to do the exact opposite and add AEM calls.

It’s quite clear that gold is red-hot right now, so adding AEM calls on today’s dip is playing alongside an established upside trend. Whereas yesterday’s play was more risky (since it went against the grain), this play is using a dip as a cheap opportunity to ride any gold momentum higher. Going into the close, get ready to add AEM calls tomorrow at the open (that is, if the markets support such a play). As always, I’ll keep you fully informed.

In the meantime, let’s add a quick play on Chinese solar firm Canadian Solar (CSIQ – NASDAQ). There’s no time to chat about it, so here’s the play, and I’ll follow up tomorrow…

CSIQ

PLAY: Buy the CSIQ October 17.50 Calls (GQA JW) at or under $1.75, good for the day. Place a protective stop limit at $0.80 and a sniper sell at $3.00.

And as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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