12:50pm (EST)
Best Buy (BBY, $43.59, up $0.59)
April 41 calls (BYY100417C00041000, $2.60, up $0.50)
Entry Price: $1.10 (3/18/10)
Exit Target: $4.00 (closed half at $3.50 on 3/25/10)
Return: 177%
Stop Target: $2.25, lower to $1.75
Action: As much as we hate to do it, we are closing this trade ahead of the weekend. Some knucklehead downgraded the stock today but this is not the reason we are closing the position. We have other trades in process that we think will do well and we want to book these gains in case we do get a curveball Monday. We may get back in the trade or do a “rollover” but these gains are too juicy to pass up.
Akamai Technologies (AKAM, $31.86, up $0.35)
April 32 calls (UMU100417C00032000, $0.92, up $0.16)
Entry Price: $1.22 (3/17/10)
Exit Target: $2.45
Return: -21%
Stop Target: 60 cents
Action: We think Akamai can run to new 52-weeks highs over the next few weeks. Continue to hold.
SanDisk (SNDK, $35.03, up $0.08)
April 36 calls (SWF100417C00036000, $1.00, flat)
Entry Price: $1.17 (3/11/10)
Exit Target: $2.00
Return: -15%
Stop Target: $1.00
Action: We are right near our stop target (which we had raised) but we think SanDisk can run to $40. We are going to hold this one open. The 52-week high is $36.25 which was just hit yesterday. The stock is volatile but the trend is higher.
Bucyrus International (BUCY, $67.73, up $0.45)
April 70 calls (HIK100417C00070000, $1.65, flat)
Entry Price: $1.60 (3/11/10)
Exit Target: $3.20 (closed half at $2.40 on 3/23/10)
Return: 28%
Stop Target: $1.60
Action: You have seen the explosive moves BUCY can make and we still don’t think this one is done flirting with $70+.
EMC (EMC, $18.68, down $0.05)
April 19 calls (EMC100417C00019000, $0.30, flat)
Entry Price: $0.55 (1/19/10)
Exit Target: $1.00
Return: -45%
Stop Target: $0.25
Action: Shares touched a high of $19.04 yesterday, a 52-week high, and the stock has the look and feel like it’s going to $20. Continue to hold.
Other 2010 Portfolio OPEN positions (4): These are trades that are still open in the portfolio that have longer expiration dates but are not worth mentioning until they turn around. This way you know we are still tracking them and we will record the results, accordingly. Click on the 2010 Portfolio link in the Members Area to view ALL open/ closed trades.
Berkshire Hathaway Class B (BRK/B, $81.92, up $0.22), TiVo (TIVO, $16.31, up $0.07), Shuffle Master (SHFL, $8.17, up $0.29), General Mills (GIS, $70.42, down $0.73).
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. We will not list entry prices because these stocks are on the verge of breaking out or they could selloff.
Back on Monday with a fresh list.
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