Booking 76% Gains Today — After Making 126% and 80% Profits in “China’s Twitter” and Palladium Just Last Week!

You also booked 80% gains in your March $7.00 call options in North American Palladium Ltd. (PAL) on Friday. The stock itself shot up more than 18.9% in just the past five trading days. Raise your stop to $6.40.

Meanwhile, last week’s pick, Transocean (RIG) also got off to a strong start with the stock up 8.13%. With the May $80 calls up 76.19%, based on Friday’s close, I am recommending that you sell half of your calls to lock in some big gains after a mere five trading days. Hold onto the stock and the rest of the options for potentially even bigger gains. Raise your stop to $68.00.

Spreadtrum Communications, Inc. (SPRD) also jumped 8.46%, hitting a new record high. Your options also are up just under 47%. Look for a “Special Alert” later this week to take some profits on this one. Raise your stop to $17.50.

With all this fast-paced trading going on in Global Bull Market Alert, it’s a good time to review your introductory video to the trading service on my YouTube channel. I expect to be posting more updates there in the coming weeks.

My greatest concern is the high level of bullishness in the market — which often is followed by sharp pullbacks. The S&P 500 now is up seven weeks in a row. That has never happened before.

So I’m taking a break from making a new recommendation during this holiday-shortened week. But keep your eyes out for any “Special Alerts” recommending that you book some new, big profits, particularly in option trades.

Portfolio Update

China MediaExpress Holdings (CCME) continued to break out from its long-term trading range, jumping 12.33% in the past week. The company announced the signing of three important new contracts, adding a total of 774 express buses to its network. Although it pulled back from the $20 level on Friday, this stock has a long way to go. My top pick for 2011 in the AOL stock-picking contest, CCME is a BUY.

Cognizant Technology Group (CTSH) ended the week flat, after announcing that it is increasing its North American service delivery center capacity to accommodate continuing rapid growth. Expect the stock to move in the next two weeks, ahead of an earnings announcement on Feb. 7. CTSH is a BUY.

Bank of Ireland (IRE) rose 3.3% this week, as the European Union announced a new round of stress tests for banks. Bank of Ireland is the most likely among Irish banks to pass, yet again. Trading at a price-to-book ratio of 0.33, IRE remains a speculative BUY.

Ivanhoe Mines (IVN) jumped another 7.4% this past week, just under the $26.00 level. We’ll be looking to exit your remaining options on this stock relatively soon — as soon as they go back into the black. Trading above its 50-day moving average, IVN is back to a cautious BUY.

Melco Crown Entertainment Limited (MPEL) jumped another 7.7% this past week to highs not seen since 2008. Citigroup raised Melco Crown Entertainment’s price target to $9 from $8.35. That’s about 20% up from current levels. Asia’s Las Vegas remains a BUY. Raise your stop to $6.25.

North American Palladium Ltd. (PAL) soared 18.9% last week. Royal Bank of Scotland said that it expects palladium to continue its bullish ways in 2011. That comes on the back of a five-fold increase for the metal since 2008. After booking 80% gains in your March $80 call options, your bet on this “secret commodity” is back to a BUY. Raise your stop to $6.40.

Sina Corporation (SINA) soared 16.1% last week alone, allowing you to book 126% profits on your March $72.50 calls. A relentless profit machine in Global Bull Market Alert, “China’s Twitter” remains a BUY. Raise your stop to $69.00.

Spreadtrum Communications, Inc. (SPRD) jumped 8.46%, hitting a new record high. Your options also are up just under 47%. Look for a “Special Alert” later this week to take some profits on this one. This bet on Chinese technology remains a BUY. Raise your stop to $17.50.

Silvercorp Metals Inc. (SVM) continues to falter for reasons that remain unclear. But remember, we had weakness in other Global Bull Market Alert stocks like this — in MPEL and CCME — and those came roaring back as well. With Raymond James raising its price target on SVM to $15.65, I expect the same to happen with SVM here. But with the stock firmly below its 50-day moving average, SVM remains a HOLD.

Transocean Inc. (RIG) got off to a strong start with the stock up 8.13%. With the May $80 calls up 76.19%, based on Friday’s close, I recommend that you sell half of your options here. RIG remains a BUY. Raise your stop to $68.00.

Uranium Energy Corporation (UEC) ended the week slightly up. With the fundamental story behind uranium intact, I expect this stock to do very well in the long term. But with the stock below its 50-day moving average, I am keeping UEC on a temporary HOLD.