Categories: Bull Market Alert HotlinesStock Market News

The Global Bull Does Some House Cleaning

That correction may have started with the overnight sell-off in Asia.

So I want to recommend that you do some “house cleaning” on some of your expiring options positions.

1. Sell your remaining March $23 call options in Ivanhoe Mines (IVN) for a small loss of 3.13%. You shouldn’t have many options left, and your overall position should be profitable, as you’ve already sold half of your options on Nov. 8 for a 53.13% gain, and another quarter on Dec. 8 for a 103.13% gain.

2. Sell your April $7.00 call options in Melco Crown Entertainment (MPEL) for a modest 15.79% gain. I expect to recommend more options on this one at a later date, after the stock pulls back.

You also have March options in China MediaExpress Holdings (CCME) and Silvercorp Metals (SVM). Both of these are powerful stories as stock investments and you should feel comfortable holding them. But I am keeping a close eye on the options for an opportune time to exit. Keep an eye out for a Special Alert on these in the coming weeks.

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Nicholas Vardy

Nicholas Vardy has a unique background that has proven his knack for making money in different markets around the world. He was the Editor of The Global Guru, a free weekly e-newsletter, and also edited the trading services Momentum Trader Alert, which focused on making short-term profits in the hottest markets in the world, and The Alpha Algorithm, which was designed specifically to deliver big, fast triple-digit winners, month after month. He was also the editor of Smart Money Masters, a monthly service focused on longer term investments recommended by the brightest minds in the business. Mr. Vardy has been a regular commentator on CNN International and the Fox Business Network. He has also published articles in The New Republic, The World and I, and The Baker & McKenzie Legal Review. The Global Guru/Nicholas Vardy has been cited in The Wall Street Journal, Newsweek, Fox Business News, CBS MarketWatch, Yahoo! Finance, and MSN Money Central. Mr. Vardy graduated from Stanford with a B.A. — with honors and distinction — in both Economics and History, and he also earned an M.A in Modern European Intellectual History. After winning a Fulbright Scholarship, he earned a J.D. degree at Harvard Law School where he was an editor of the Harvard International Law Journal. When not uncovering investment opportunities for his subscribers and investors, Mr. Vardy is a keep-fit enthusiast and an avid student of classical music.