With our options up 76.09%, it’s a good time to take some profits off the table. Sell half of your options (VIQ-GT) here, but hold on to the stock for more gains.
Also, our Brazil-based China play — mining giant CVRD (RIO) — announced record profits last night after the market closed. CVRD recorded an 86.9% rise in net profits in the first quarter of 2007, driven by the strong performance of its new Canadian nickel unit Inco Ltd. Profits totaled a record $2.22 billion, up from $1.19 billion a year ago.
With other mining stocks up overnight in Asia, and CVRD up in pre-market trading, let’s sell half of our options (RIO-FH) here for a 56.86% gain.
After four strong weeks, many global markets sold off in the first half of this week. European markets, however, continue to perform strongly. The Swedish ETF (EWD) advanced 1.6% over the week and is now up 14.73% since our initial recommendation. Latin American cell phone giant America Movil (AMX) is up 8.32% and U.K.-based holding Tesco (TSCDY) is showing a solid 8.96% profit during the last six weeks.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Hilary Kramer is an investment analyst and portfolio manager with 30 years of experience on Wall Street. Since 2010, Hilary's financial publications have provided stock analysis and investment advice to her subscribers: