Take Visa Profits
Plus, Close Goldman
PLAY: Sell your V April 90 Calls (O:V 10D90.00) at market, good for the day.
Dear Bottarelli Research Member,
First off, congratulations on your winner on Best Buy. It’s always nice to lock in a quick and easy 23% gain playing earnings. Going forward, we’ll continue to make these earnings plays whenever the right situation arises.
Looking at our other positions, our “Brass Balls” trade on Goldman is not going our way. This is why I called this one a super-speculative position. Just when Goldman appears ready to break down, someone flips a switch and the stock musters up a rally. When the markets were up 100 points, for example, shares of GS were trading lower. In fact, they, dipped below the $175 level, which seemed to confirm a coming breakdown. But despite the massive downside potential, I knew we were dealing with an entity that’s above Wall Street, above political decency, and above all other metrics for fair business dealings. That’s why it was such a super-speculative play. Today, you can see why I labeled it the way I did. With GS rallying, our GS April 170 Puts (O:GS 10P170.00) have officially hit our $1.90 stop. If you haven’t already done so, close this position now. Sell.
To offset this loss, let’s lock in profits in our V April 90 Calls (O:V 10D90.00). As you know, we entered these calls for $2.00, and they just hit a high of $2.71, good for a 35% gainer. Lock in these profits now!
PLAY: Sell your V April 90 Calls (O:V 10D90.00) at market, good for the day.
And as always…
Lock and load!
Sincerely,
© 2012 CSR Group, LLC. All rights reserved. Published in USA.
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