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PLAY: Sell your NEM March 49 Calls (O:NEM 10C49.00) at market, good for the day.
Dear Bottarelli Research Member,
Good afternoon. By the way the market’s behaving, you’d think the U.S. has a trillion dollar surplus, 2% unemployment, and a robust housing sector. As we all know, that’s not the case. But Washington and Wall Street certainly want us to think that’s the case. With a pivot high on the Dow right at the 10,438 level, I still think it’s a good idea to hold ultra-short hedges (via the SDS and FAZ). If Dow 10,500 once again serves as resistance, we’ll be glad we’re protected.
In the meantime, let’s lock in profits on our NEM March 49 Calls (O:NEM 10C49.00). As you know, we entered these calls on February 25th for $1.93, and they just hit a high of $2.34, good for a quick 21% gainer. Lock in these profits now!
PLAY: Sell your NEM March 49 Calls (O:NEM 10C49.00) at market, good for the day.
In other news, we’re also coming to a time when we experience seasonal strength in sectors such as crude oil, natural gas, and agriculture. For example, the annual iron ore price negations will begin soon, and the miners are expected to be asking for prices that are more closely aligned to the spot price at almost double the $60-per-ton level set last year. That’s why companies like VALE, CLF, and X have been on the move. I’ll follow up on this in forthcoming alerts. But for now,
Lock and load!
Sincerely,
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