Two of our Global Bull Market Alert option plays roared into triple-digit percentage gains yesterday.
The stock of Brazilian mining giant CVRD (RIO) soared as the mining sector was abuzz with a possible merger between market leaders BHP Billiton and Rio Tinto. Your CVRD call options dipped slightly in early trading today but still are up a whopping 96.08%, so sell half of your remaining options to lock in close to a triple-digit percentage profit. Hold on to your 11.52% gain in the stock for now. With the buzz surrounding commodity stocks, this one has a (volatile) way to go.
Korean steelmaker Posco’s (PKX) stock also jumped as the Korean market continues to hit record highs. This Warren Buffett favorite is now up just over 15% since we first bought it six weeks ago. We took profits of close to 50% on Posco options two weeks ago. It’s time to take some more money off the table, so book your profits of 103.93% on half of your remaining options. Like Buffett, we’re holding on to the stock for now.
Global markets have performed surprisingly strongly over the past five trading days -- that is, until yesterday's sharp, early sell-off that dented the sentiment. Both Latin American cell phone giant America Movil (AMX) and last month's pick, Millicom International (MICC), hit record highs over the past week. America Movil is now the top performer in our portfolio, up 14.39%.
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