Take KLAC Profits

Lock in Modest Gainer

By Bryan Bottarelli
Wednesday, September 23, 2009 9:46 AM EDT
Wed, 23 Sep 2009 13:46:00 GMT

PLAY: Sell your KLAC October 35 Calls (QJR JG) at market, good for the day.

Dear Bottarelli Research Member,

Good morning.With the Fed scheduled to give their latest interest rate decision this afternoon, we’ll probably see the markets trade in a tight and narrow range all morning long. If I were to wager a guess, you can expect Bernanke and Co. to say that the markets are in full recovery mode and the worst is behind us. You know that the Fed officials just can’t pass up an opportunity to credit themselves with averting global financial disaster. And of course, they’ll keep rates the same going forward.

Going into this announcement, it’s always a good idea to trim down your trading exposure. In that sense, let’s go ahead and lock in our profits on the KLAC October 35 Calls (QJR JG). As you know, we entered these calls yesterday for $1.85 and they’ve opened the session at a high today of $2.15. With KLAC hitting new 52-week highs, the upside story remains in play. But with the Fed announcement this afternoon, it’s better to take the safe route. Lock in your gains now!

PLAY: Sell your KLAC October 35 Calls (QJR JG) at market, good for the day.

I’ll follow up on our other positions as the day progresses. Until then…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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