It’s time to ring the register on our 60th winning trade of the year. We have started buying put options as we have been preparing for a market pullback and today’s winning trade will bring our 2012 Track Record to 60-13.
Schnitzer Steel Industries (SCHN, $38.27, down $0.90) will announce earnings on Thursday before the bell. While we expect the company to report a terrible quarter, we are going to lock in our 73% profits in just 2 days ahead of the event.
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