Time sure does fly by when you are on vacation. Good food, great music, and super people. Jazz Fest in New Orleans lived up to its billing as “one of the best times” you will ever have if you love music. Enough said, time to go back to work…
I did manage to find 7 minutes to take a peak at Wall Street and it looks like the market managed to hold its own. There are four trades that I left you with and I will update each one of them sometime today. I’ll start with one this morning and go from there.
ValueClick (VCLK, $11.00, up $0.52)
May 10 calls (QCSEB, $1.25)
Entry Price: $0.75 (4/9/09)
Exit Price: $1.50 (open)
September 12.50 calls (QCSIV, $1.10)
Entry Price: $0.80 (4/9/09)
Exit Price: $1.60 (open)
It looks like my wish was granted for this trade. ValueClick did manage to hold $10 last week and although I wanted the stock closer to $11, we got that with yesterday’s 5% jump. ValueClick reports earnings TODAY after the bell so close the May call options today. We were targeting $1.50 but lets take the risk out of the earnings announcement. It might also be a good idea to close half of the September calls as well.
Looks like some profit-taking will hit the market this morning as futures are pointing towards a lower opening.