Happy Holidays (And Profits!) From The Global Bull Market Alert

China Life Insurance (LFC) was up 4.3% Friday on news that it won regulatory approval to list in Shanghai on Friday. China’s biggest life insurer expects to raise $3.2 billion in what would be the country’s second-largest domestic public offering. The stock is up almost 29% since our recommendation. Sell half of your remaining options for a gain of 236% and adjust the stop price on the stock to $98.50.

Millicom (MICC) continues to power ahead, and is now up more than 56% since our initial recommendation. It’s the #2 performer in the NASDAQ 100 this year. Having hit $63.00, Millicom surpassed our initial target price of $60. Let’s tighten our stop to $57.50, and let the market take us out on the back of any correction.

Spain’s Telecom provider Telefonica (TEF) toyed with the $65 level last week, and is now up almost 21%. Although Spain has been Europe’s top performing market to date, Telefonica is more than just a Spanish play. As the world’s sixth-largest telecommunications company, Telefonica now has a significant presence in 15 countries with more than 100 million customers. With Citigroup recently publishing a report with a $69 target for Telefonica’s shares, let’s hold on more year-end gains here. Move your stop to $61.30.

Latin American cell phone giant America Movil (AMX) is now up almost 12%. The Mexican stock market broke through the psychologically important 26,000-point barrier on Friday. Sell half your options here to lock in a 57% gain.

With the shares oversold on all major technical indicators, all the conditions are in place for Philippine Long Distance (PHI) to break out of its trading range. The benchmark 30-company Philippine Stock Exchange Index closed at its best finish since June 20, 1997 on Friday. The Philippine currency, the peso, also rose to another 4 1/2-year high Friday.

Israeli cell phone play Partner Communications (PTNR) saw a big seller of its stock in the marketplace last week. As that selling pressure has settled, look for the stock to resume its steady, upward pace.

Mindray Medical (MR), our entrepreneurial China play, took a pause from its relentless march upward last week. Look for Mindray to find its feet soon, as the Chinese market continues to gather momentum. Adjust your stop to $23.40.

We were stopped out of Russian cell phone play Vimpelcom (VIP) on some choppy intra day volatility on Thursday. You booked gains of 9% on the stock and an average of 89% on the options. Those of you still in the stock may want to hold on to this momentum play through this seasonally strong period.