May 2010 | Members

 

1:30pm (EST)

Wells Fargo (WFC, $28.84, down $0.57)

June 25 puts (WFC100619P00025000, $0.30, up $0.05)

Entry Price:  $0.73 (5/25/10)

Exit Target: $1.50

Return: -59%

Stop Target: None

Action:  Continue to hold.

 

Vale SA (VALE, $27.21, down $0.34)

June 22 puts (VALE100619P00022000, $0.20, flat)

Entry Price:  $1.00 (5/20/10)

Exit Target: $2.00

Return: -80%

Stop Target: None

Action:  Continue to hold.


SanDisk (SNDK, $45.89, down $0.96)

July 34 puts (SNDK100717P00034000, $0.80, up $0.10)

Entry Price:  $1.50 (5/10/10) 

Exit Target: $3.00

Return: -47%

Stop Target:  $1.10, none 

Action: Continue to hold.   


Other 2010 Portfolio OPEN positions (5):  These are trades that are still open in the portfolio that have longer expiration dates or are on “hold” but are not worth mentioning until they turn around.  Many of these trades are months old so new subscribers should not be in them. We are still keeping track of the trade and we will record the results, accordingly, when we close them or they expire.  Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades. 

A123 Systems and Berkshire Hathaway Class B.


WATCH LIST SECTION

These trades are NOT recommendations until we send out an alert.  These are trades that we like but have not added to the portfolio as an official recommendation because of market conditions or because we are waiting for better entry prices.  We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.  

We will probably be using some of the trades we mentioned this morning for next week but we didn’t want to open up any news positions today ahead of the 3-day weekend.