Ringing the Register once again! Locking in huge winners all day long.
# November 04, 2010
# 09:58 | Bagger Vance MS ($26.16) Sold to Close MS 112010 25 C Nov 26 calls, at $1.35 -6%
# 09:57 | Bagger Vance NOV ($57.90) Sold to Close NOV 121810 55 C Dec 55 calls, at $4.30 +65%
# 09:57 | Bagger Vance BRCM ($42.29) Sold to Close BRCM 112010 40 C Nov 40 calls, at $2.61 +59%
# 09:54 | Bagger Vance FCX ($101.94) Sold to Close FCX 112010 100 C Nov 100 calls, at $4.20 +84%
# 09:53 | Bagger Vance BTU ($56.43) Sold to Close BTU 112010 55 C Nov 55 calls, at $2.35 +137%
# 07:21 | Bagger Vance WFMI ($45.77) Sold to Close WFMI 121810 42 C Dec 42 calls, at $4.50 +200%
Today was a great day for the bulls after yesterday's Fed announcement. It really was not unexpected but more a 'fait accompli'. Certainly the action late yesterday really paced what we could expect today. Gold was the big star of the day but also joined by silver. Breadth was awesome and turnover was very strong as well. Breakouts seen in many groups and even the banks participated. The market has come a long way here and may be looking for a bit of pause, but we'll watch and listen to the market to get those clues. Oil hit multimonth highs as well, coal and other metals showed good strength. The big area continues to be the tech group which is pacing the action. Bonds were up sharply after yesterday's late nosedive. Risk assets (every asset!) were purchased today. Earnings continue to look great and will continue into next week.
We're still long several names and look to bank more profits over the coming days!
Hit 'em straight....Bagger