Add to AEM
Lower Cost Average Into November
PLAY: Buy more AEM November 75 Calls (AEM KO) at market, good for the day.
Dear Bottarelli Research Member,
First off, congratulations on your GMCR profits from this morning. As expected, GMCR popped above the $75.00 level, establishing a new 52-week high. We used this pop to our advantage by locking in another quick gainer.
One important strategy that allowed us to take this morning’s gain was the ability to use a momentary dip in prices to add to our November call position. Not only did this lower our cost average, but it also gave us an opportunistic chance to maintain upside exposure going into November. In this spirit, I’d like to do the same thing right now with Agnico-Eagle Mines (AEM – NYSE).
Looking at the AEM chart, the $70 level looks like a strong level of support. Let’s add to our November calls right at this level.
PLAY: Buy more AEM November 75 Calls (AEM KO) at market, good for the day.
At the same time, maintain your AMZN November 100 Calls (QZN KT) and your PRU November 50 Puts (PWQ JW).And as always…
Lock and load!
Sincerely,
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