Add GG Puts
Playing a Quick Dip
PLAY: Buy the GG October 42.50 Puts (GAG VV) at or under $1.50, good for the day. Place a protective stop limit at $0.95 and a sniper sell at $2.30.
Dear Bottarelli Research Member,
When you combine today’s strength in the U.S. dollar with weakness in oil and gold, the result is a temporary pullback in the metals and oil companies that I routinely follow. To play alongside this move, and to equal out our trading ledger, I’d like to carefully add October puts on Goldcorp (GG – NYSE).
As we all know, gold has had a fantastic upside run. And as a trader, momentum like this isn’t something that I want to stand in front of. But as you can see from the GG chart, the stock has a gap to fill around the $39 to $40 level which also coincides with a triple-top that is forming up at $43.00. As a result, let’s carefully add GG puts in anticipation of a temporary pullback.
PLAY: Buy the GG October 42.50 Puts (GAG VV) at or under $1.50, good for the day. Place a protective stop limit at $0.95 and a sniper sell at $2.30.
And as always…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
Information, opinion, research, and commentary contained herein is obtained from sources believed to be reliable; their reliability, however, cannot be guaranteed. The maxim of Caveat Emptor applies — let the buyer beware. Bottarelli Research does not provide individual investment advice, act as an investment advisor, or individually advocate the purchase or sale of any security or investment.
Investments recommended in this service should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Bottarelli Research reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscriber’s initials will be used unless express written permission has been granted to the contrary.
CSR Group, LLC expressly forbids its writers from having a financial interest in any security recommended to readers. Furthermore, all employees and agents of CSR Group, LLC and its affiliate companies must wait 24 hours before following a published recommendation.