The S&P 500 broke through a key resistance level of 1,340 on Monday, closing at 1,355. This bodes well for further upside in the U.S. market in the weeks ahead.
Meanwhile, the Millicom International (MICC) options that you bought on Monday are already up 52.17%.
As you may know, the general rule of thumb in Bull Market Alert is to book your first round of option profits by selling half of your options when they achieve gains of roughly 50%. With your October $120 call options now up 52%, sell half of your options here to lock in your profits.
It was a “risk on” week in global financial markets. The S&P 500 broke through a key resistance level of 1,344 yesterday, hitting multi-year highs. But as we noted earlier, emerging market stocks had already broken out to the upside a few weeks ago. So, the decision to re-enter many of your watch list holdings en masse a few weeks ago has proven to be a profitable one so far.
There was good news all around for your Alpha Investor Letter portfolio, with almost a
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