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NEW CPTI PORTFOLIO TRADE

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Good Morning Troops,

Let's start the year off right -- one day ahead of time. We're going to wade into the February cycle -- even though we'll have to wait seven weeks. It should be worth it.

With the SPX at 1472, let's:

Sell 20 February SPX 1300 puts - SXYNT
Buy 20 February SPX 1290 puts - SZPNR
Credit of about $.60 ($1,200)

We have a 172 point cushion. I like that. Maintenance is $20,000. Potential profit is $1,200. We'll watch for the bear call spread to complete our Iron Condor -- If it makes sense.

Good luck and trade smart - and stay reasonably sober.

Have a safe and healthy New Year. We're going to kick ass in 2008!!

Mike

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