BANCA MONTEPASCHI

We are in a Bubble, but we are interested in BMPS at 1,43 not higher!!!

Italcementi but at 10,88 (not higher) current price 10,85!!!

ITALIAN BANK

Yesterday I was ready to put at your attention an Italian Bank. Then i preferred to wait.

Let's see this morning. come back later please.

Prices cannot go higher and higher every day in such a way. Today can be a quite day.

OPEN TRADES

OPEN TRADES
Telecom bought at 1,14. Target price 1,28 .- stop at 1,14

PIRELLI bought at 0,32 SL at 0,333 TP 0,365

Eni bought at 16,40 Take Profit at 17,75 stop loss at 16,80

MEDIOLANUM Bought at 4,20 Take Profit at 4,90 stop loss at 4,25

Rcs bought at 1,01 take profit at 1,28 stop loss at 1,05


CLOSED TRADES
TENARIS BOUGHT AT 10,15 sold at 11,03!!!

TODAY WE LIKE CEMENT IN BERGAMO BUT AT A LOWER PRICE

Accumulate at 10,5 (not higher)

STILL BULLISH....BUT BE READY TO COVER THE LONG POSITIONS SOON

We are investing with the idea that markets will reach new highs FIRST WEEK OF OCTOBER.

However the "futures" liquidation next 18/9 con be quite relevant and can put under pressure the market.

In addition to that look at the gold and the dollar. Dollar weak and Gold over 1000 are important indicators that starts to put some worries to the investors.

Piaggio continue to remain in our shopping list (but we did not buy any share so farand today we will not put any order). De Benedetti continue to raise the interests of the investors.

We are looking to an italian Bank and company based in Bergamo. During the morning we will tell you the names if the market will be positive.





WE INVEST ON TELECOM ITALIA FOR A FINAL TARGET OF 1,5 (medium term)!!! Top pick!


OPEN TRADES
Telecom bought at 1,14. Target price 1,28 .- stop at 1,12

Tenaris bought at 10,15 Target 11,03 . Stop Loss 10,40

PIRELLI bought at 0,32 SL at 0,315 TP 0,35

Eni bought at 16,40 Take Profit at 17,80 stop loss at 16,55

MEDIOLANUM Bought at 4,20 Take Profit at 4,90 stop loss at 4,25

Rcs bought at 1,01 take profit at 1,28 stop loss at 1,05

KEEP AN EYE ON THE ITALIAN SCOOTER

We are looking to Piaggio to collect at 1,49 - 1,51.

OPEN TRADES AND CHANGE IN STOP LOSS.

Asia was closing positive, with Japan +0,53% at 10.376. Europe should be quite at the opening.

MARKETs ARE BOOMING...so......we should be ready to start go short on the market in the next few days on some shares not ready to break up resistances (we are looking to Luxottica, pop Milano, Fiat ecc ec..but do not sell today....just be ready on your books to click sell short the stock). Market could go up for some additional days with some shares that can go up to the roof

In the meantime....we have increased our stop losses on some position in order to reduce potential losses.

Our best pick remain Telecom Italia (but 1,20 can be hard to pass)


OPEN TRADES:
BE CAREFUL: (STOP LOSS OR TAKE PROFITS CAN CHANGE DURING THE WEEK)

Telecom bought at 1,14. Target price 1,28 .- stop at 1,14

Tenaris bought at 10,15 Target 11,03 . Stop Loss 10,15

PIRELLI bought at 0,32 SL at 0,31 TP 0,35

Eni bought at 16,40 Take Profit at 17,80 stop loss at 16,40

MEDIOLANUM Bought at 4,20 Take Profit at 4,90 stop loss at 4,25

Rcs bought at 1,01 take profit at 1,25 stop loss at 1,04