Skip navigation



mht_banner_moving.jpg Subscribe to "Happy" Membership     Subscribe in a reader FREE     Subscribe via Email FREE

Stocks Rally Back to Erase Morning Loss! HPQ, VIX, PCLN, GLD, CRUS, APC, MPC, TSO, WDC, STX, MRVL

May 23, 2013 – 11:34 pm

Last night, Asian markets took huge drops after manufacturing data from China came out weaker than expected.  Japan’s Nikkei tumbled more than 7%!  This morning, SPX gapped down 20 points at open, but, buyers came in after about an hour into the trading.  There were some big swings!  For instance, PCLN traded as low as $784 at open and ended the day above $803, almost a $20 swing.  Energy stocks such as APC, APC, and TSO all bounced right back before the close.

Gold and silver bounced as well.  GLD gained +2% and could turn bullish.

HPQ popped more than +17% as the company raised its forecast.  We picked up HPQ calls yesterday just before the close and scored an overnight +113% winner.  We took some profits today and also cut some losses: 

  • 12:51 | HappyTrading TSLA ($92.70) Sold to Close 0531C95 May 95 calls, at $2.70 +6%
  • 07:01 | HappyTrading MOS ($58.60) Sold to Close 06C62.5 Jun 63 calls, at $0.45 -72%
  • 06:54 | HappyTrading VIX ($15.00) Sold to Close 0619C15 Jun 15 calls, at $2.00 +38%
  • 06:53 | HappyTrading HPQ ($23.80) Sold to Close 06C21 May 21 calls, at $2.80 +115%

The Dow ended down 12.67 points; SPX slid 4.84 points; Nasdaq was down just 3.88 points.  Well, in this uncharted territory, we are now finally establishing some resistance and support levels.  In my Market Forecast this weekend, I said, "Technically speaking, things are toppy.  We have to be careful here.  On the downside, the nearest support is between SPX 1640 and 1630."  Well, today the market tested the support and buyers came right back in.  The resistance level now is SPX 1680.

I think we’ll start seeing some volatile days.  VIX tested 15 today, and we took some of our VIX calls off the table.  It is amazing how strong this market is.  Lots of money is still trying to come in.  Energy stocks are getting stronger.  With a nice forecast from HPQ, techs should draw in more buyers.  WDC and STX were strong today.  MRVL reported a solid quarter after the market today and traded +6.54% higher in after-hours.

We haven’t been trading a whole lot because things are technically overbought.  With a market holiday on Monday for Memorial Day, let’s take things easy until next Tuesday!

Good night and HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FDN, IGV, SOXX, XLE, MPC, TSO, IOC, VLO, PSX, APC, APA, NOV, ASML, BRCM, XLNX, INTC, CRM, RHT, VMW, GOOG, PCLN, FB, YHOO, EBAY

May 19, 2013 – 8:04 pm

It was another winning week for the markets. Stocks pushed higher once again! Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the markets need to consolidate a bit here. If not, it’ll need to go on a parabolic rise. Energy stocks were weak on Friday as the dollar pushed higher. We’ll have to watch the dollar in the coming week. It’ll likely be a stock/sector-picking environment. As long as the financials can keep their levels, I think the broader market will be able to hold above 1600. Techs seem to have caught buyers’ attention; we’ll see if the buying can continue."

Financials led the rally, and techs kept the buyers’ attention as well. It was a slow start on Monday, but, by Wednesday, SPX was already testing 1660. Thursday afternoon saw some quick profit-taking. But, that didn’t last at all. Buyers came in on Friday morning and the markets closed at the high of the week!

We didn’t trade much last week as things pushed higher at a fast pace:

  • 09:28 | Ecstatic Plays SPY ($166.12) Sold to Close 0524P166 May 166 put, at $0.93 -15%
  • 07:28 | HappyTrading LNKD ($181.80) Sold to Close 0524P180 May 180 put, at $2.81 -2%
  • 11:22 | Ecstatic Plays LNKD ($187.00) Sold to Close 05C190 May 190 calls, at $1.80 -52%
  • 08:12 | Ecstatic Plays CLF ($23.40) Sold to Close 05C22 May 22 calls, at $1.37 -12%
  • 07:09 | Ecstatic Plays MPC ($76.00) Sold to Close 05P77.5 May 78 put, at $2.40 +17%

For the week, the Dow was up +235.91 points; SPX added +33.77 points; Nasdaq gained +62.39 points. Gold had a big down week, sinking below $1360/ounce. Oil went up a bit to trade near $96/barrel. Asian markets were mostly higher at the time of this writing. Let’s see where the US markets closed on Friday:

SPX

SPX added +17 points to close at 1667.47. Its daily MAs and MACD glided up.

Nasdaq

Nasdaq gained +33.72 points to close at 3498.97. Its daily MAs and MACD also went higher.

Well, both SPX and the Dow are in ever-higher uncharted territory. Nasdaq had a strong week, and has been particularly strong since breaking above 3300. For the new week…

To read the rest of this article, please subscribe to HappyTrading "Premium Articles" by going to the Premium Services (click here) page. If you are already a subscriber, please click here: Market Forecast 5/19/13.

By HappyTrading | Posted in Uncategorized | Comments (0)

Time for Some Consolidation! TSLA, GOOG, SODA, DDD, SSYS, MA, GS, AIG, PCLN, ESI, APOL, COCO, DV

May 14, 2013 – 11:21 pm

Stocks popped for a new leg up today, pushing SPX to close above 1650! Financials led the rally: GS +3.27%; MA +2.49%; AIG +3.23%. Recent high flyers include TSLA, which went from $55-and-change to today’s high of $97.12 in just 4 trading sessions! GOOG has also been ramping up non-stop, almost hitting $890 today. 3D-printing stocks have also faired well: both DDD and SSYS made new all-time highs today!

So, how high can this market go without a respite?! Well, I think the market is about to take one. SPX 1650 could be a psychological barrier, one of those "whole number" levels! Technically speaking, the market is toppy. I would really find it unlikely to go push higher without some consolidation. If it continues to push higher without a break, it’ll have to go parabolic! This bull market, though, is unlike the tech boom back in 2000. This time, the Dow and SPX are leading the way, which means the rally is broadly based. In fact, techs, so far, have been lagging!

One group that really took off today was the education and training services. ESI vaulted almost +18%! APOL gained more than +9%. COCO popped +8.46%. DV added +5.49%. Let’s keep our eyes on this group. I think a lot of shorts will need to cover their positions in these stocks!

We didn’t chase the market today. We’ll see how the market does tomorrow. If the market keeps going, I wouldn’t complain if this rally turns parabolically higher!

Good night and HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, FDN, XLE, XME, GOOG, PCLN, CRM, EQIX, TSO, HES, MPC, WLT, CLF, CMI, JOY

May 12, 2013 – 7:38 pm

Last weekend, in my Market Forecast, I wrote:

"For the new week, we should see the markets glide higher. I wonder if we could see the type of rise that Nasdaq had in 2000. Both SPX and the Dow are in uncharted territory. So, we’ll have to watch the levels in the next couple of weeks to see where the resistances will appear. On the downside 1600 should now be the initial support."

Well, indeed, the market did glide higher. There were some stutters on Thursday and Friday, but, buyers came in at every weakness. The market closed on a strong note on Friday. We also enjoyed a nice week with mostly winning trades.

For the week, the Dow was up +144.53 points; SPX added +19.28 points; Nasdaq gained +57.95 points. As the dollar popped higher, Gold took a quick drop, trading below $1440/ounce. Oil was little changed, staying above $95/barrel. At the time of this writing, Asian markets were mixed. Japan’s Nikkei was rising to a new all-time high as yen fell further against the dollar. Here’s how the US markets looked after Friday’s close:

SPX

On Friday, SPX added +7.03 points to close at 1633.7. It closed above 1630. Its daily MAs and MACD went up.

Nasdaq

Nasdaq gained +27.41 points to close at 3436.58. Its daily MAs and MACD also pushed higher.

Buyers finally started to move into techs. VIX tried to rise, but, closed the week pretty much flat. For the new week…

To read the rest of this article, please subscribe to HappyTrading "Premium Articles" by going to the Premium Services (click here) page. If you are already a subscriber, please click here: Market Forecast 5/12/13.

By HappyTrading | Posted in Uncategorized | Comments (0)

Weekly Wrap-Up 5/12/13: SWKS, FFIV, CF, GOOG, SOHU, SINA, APC, SLB, FB, PCLN, EXPE

May 12, 2013 – 9:51 am

Happy Mother’s Day!

The markets continued to plow higher. The Dow pushed through 15,000 and SPX closed above 1630. Nasdaq broke out above 3400. We also had a great week. SWKS calls gave us a +57% gain; we’ve held on to this since earnings. SOHU calls turned in a +163 profit. SOHU continued to push higher throughout the week on M&A activities in the Chinese internet space. CF produced a +93% win on eanings. APA calls were an overnight gain of +121% on earnings. Here are the closed trades for the week:

  • 12:43 | Ecstatic Plays GOOG ($878.00) Sold to Close 05880 May 880 calls, at $8.00 +4%
  • 12:15 | Ecstatic Plays GOOG ($879.00) Sold to Close 05C880 May 880 calls, at $8.70 +13%
  • 10:53 | HappyTrading SWKS ($23.60) Sold to Close 05C21 May 21 calls, at $2.67 +57%
  • 12:05 | HappyTrading AAPL ($458.00) Sold to Close 05C470 May 470 calls, at $2.70 -40%
  • 11:55 | HappyTrading CMG ($370.00) Sold to Close 05C375 May 375 calls, at $3.20 -24%
  • 08:52 | HappyTrading FFIV ($79.35) Sold to Close 05C75 May 75 calls, at $4.60 +48%
  • 07:03 | Ecstatic Plays SINA ($57.70) Sold to Close 05C55 May 55 calls, at $3.90 +10%
  • 06:47 | HappyTrading CF ($194.70) Sold to Close 05C185 May 185 calls, at $10.25 +93%
  • 06:44 | Ecstatic Plays APA ($81.50) Sold to Close 05C75 May 75 calls, at $6.40 +121%
  • 12:55 | Ecstatic Plays SINA ($57.80) Sold to Close 05C55 May 55 calls, at $4.15 +17%
  • 12:47 | HappyTrading CF ($191.15) Sold to Close 05C185 May 185 calls, at $8.50 +60%
  • 09:33 | Ecstatic Plays BIDU ($92.50) Sold to Close 05C90 May 90 calls, at $3.45 +17%
  • 07:27 | HappyTrading SOHU ($54.90) Sold to Close 05C50 May 50 calls, at $5.00 +163%
  • 10:37 | Ecstatic Plays DXJ ($48.53) Sold to Close 05C47 May 47 calls, at $1.80 +20%
  • 10:26 | Ecstatic Plays SLB ($76.80) Sold to Close 05C75 May 75 calls, at $2.30 +28%
  • 08:19 | HappyTrading FFIV ($77.80) Sold to Close 05C75 May 75 calls, at $3.25 +5%
  • 08:18 | HappyTrading APC ($87.80) Sold to Close 05C85 May 85 calls, at $3.35 +34%

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

If you’re still waiting on the sideline, you’ve gotta come into this market! There are both quick and steady money to be made!

GOOG’s glasses seem to be catching a lot of attention. Its stock seems to be on its way to $900+ and it wouldn’t surprise me to see GOOG testing $1000 this years. PCLN popped after earnings and is looking for a breakout; even EXPE bounced. Kuwait just made a $3 billion deal with Airbus; it’ll be interesting to see how BA trades on Monday. I suspect that if BA gets a pullback, dip-buyers will come in within a couple of days. Commodities were weak on Friday as the dollar rose. Financials seem to be hold steady. Biotechs were strong again on M&A activities. We’ll look at these sectors in more detail later on this evening in my weekly Market Forecast & Sector Watch.

Happy Mother’s Day and HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

The Dow Closes Above 15,000! FDX, WFM, CMG, EOG, SLB, APA, RL, LQDT, KORS, URBN, VCLK, APC, GS, C

May 12, 2013 – 9:49 am

The markets pushed higher today, sending SPX to a new all-time high, 1525.96, and the Dow to 15056.2 for the close. Nasdaq also gained +3.66 points. Energy stocks were strong today. EOG reported a strong quarter last night, beating the estimates. Its shares rallied almost +10% today. APA and SLB also went slightly up. Retail stocks were very strong: RL +2.26%, KORS +2.31%, LQDT +4.63%, URBN +4.83%.

On Friday, I mentioned that FDX has turned bullish. Since then, FDX gained almost $5. UPS added +1.86%. CMG was especially weak today, down 3.45%.

After the market, WFM popped more than +8% on strong sales and forecast. It also announced a 2-for-1 stock split, set for May 29. On the other hand, VCLK sank more than 15% after missing its earnings estimates; its forecast was also weak.

The Dow as up +87.31 points; SPX added +8.46 points; Nasdaq gained +3.66 points. Both Dow and SPX are in uncharted territory, so, we’ll look at the charts on another day. As the markets hit historic highs, we locked in some profits today:

  • 10:37 | Ecstatic Plays DXJ ($48.53) Sold to Close 05C47 May 47 calls, at $1.80 +20%
  • 10:26 | Ecstatic Plays SLB ($76.80) Sold to Close 05C75 May 75 calls, at $2.30 +28%
  • 08:19 | HappyTrading FFIV ($77.80) Sold to Close 05C75 May 75 calls, at $3.25 +5%
  • 08:18 | HappyTrading APC ($87.80) Sold to Close 05C85 May 85 calls, at $3.35 +34%

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

This market is still going strong. A lot of new money is still coming into the markets. We may need to see some consolidation here. But, there are still sectors that are lagging. Energy is still far behind. Techs are just starting to build some momentum. It looks like we might see a stock-picking environment for the next week or so. APC had a solid quarter and should be bought on this pullback. GS has a lot of room to go higher and could break out soon. C also looks like it is setting up for a breakout!

HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

Market Forecast + Sector Watch: XLE, SOXX, FDN, XLF, GOOG, HES, OXY, GS, C, BRCM, MA, PCLN, APA, PNC, NOV, V, SLB, APC, ASML, XLNX, LNKD, YELP

May 5, 2013 – 9:55 pm

Last weekend, in my Market Forecast, I wrote:

"For the new week, although SPX did climb back above 1580, we’ll have to see if the market can continue on its bullish trend. It seems to be testing 1580 right now. On Wednesday, we’ll get the latest rate decision. We may see a slow start to begin the week. Of course, plenty of earnings are still coming in. We’ll be watching the commodities this week. I think if we see some rotation and/or new money going into the lagging sectors, this market can keep climbing."

The market glided higher on Monday and Tuesday, but, took a nosedive on Wednesday as the PMI data from China was lower than expected. However, dip-buyers immediately came in on Thursday and stocks quickly recovered. On Friday, the latest jobs report showed further improvement and stocks jumped. Major market indices finished at new all-time highs!

For the week, the Dow was up +261.41 points; SPX gained +32.18 points; Nasdaq jumped points. Gold bounced a bit, trading at near $1470/ounce. Oil also went up, closing just below $97/barrel. At the time of this writing, Asian markets were higher. Let’s see where the US markets closed on Friday:

SPX

SPX added +16.83 points to close at 16142.42. Its daily MAs and MACD went up.

Nasdaq

Nasdaq popped +38.01 points to close at 3378.63. Its daily MAs and MACD also went higher.

Both SPX and Nasdaq broke out higher. Nasdaq was especially strong on Friday. VIX sank to below 13! For the new week…

To read the rest of this article, please subscribe to HappyTrading "Premium Articles" by going to the Premium Services (click here) page. If you are already a subscriber, please click here: Market Forecast 5/3/13.

By HappyTrading | Posted in Uncategorized | Comments (0)

Markets at New All-time Highs! Weekly Wrap-Up May 5, 2013: AAPL, GOOG, FB, APC, FDX, SAP, RAX, WDC, STX

May 5, 2013 – 9:36 am

Wow, the markets had a big day on Friday! SPX popped above 1600, for the first time ever, and almost hit 1620 intraday, and closed at 1614.42. The Dow tested 15,000, but, couldn’t hold and closed just below. Nasdaq had a strong breakout, testing 3380. More money seems to be funneling into the markets. Earnings overall have been beating the estimates.

We started out this week with a +118% profit on AAPL calls. Wednesday’s quick drop prompted us to raise some cash. But, dip-buyers came in right away on Thursday. Our GOOG calls worked well and gave up another good trade with +62%. FB earnings response was muted, but, our in-the-money trade still did well. Here are the closed trades for the week:

  • 07:08 | Ecstatic Plays GOOG ($841.00) Sold to Close 0510C830 May 830 calls, at $15.50 +55%
  • 07:01 | HappyTrading APC ($86.40) Sold to Close 05C85 May 85 calls, at $3.00 +20%
  • 06:46 | Ecstatic Plays GOOG ($842.50) Sold to Close 0510C830 May 830 calls, at $16.17 +62%
  • 12:47 | HappyTrading FB ($29.00) Sold to Close 05C27 May 27 calls, at $2.08 +54%
  • 08:42 | Ecstatic Plays GOOG ($822.00) Sold to Close 0503C825 May 825 calls, at $3.70 -42%
  • 08:02 | HappyTrading GS ($143.20) Sold to Close 05C145 May 145 calls, at $1.90 -42%
  • 12:28 | Ecstatic Plays FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +23%
  • 12:26 | HappyTrading FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +28%
  • 07:39 | Ecstatic Plays AAPL ($428.00) Sold to Close 0503C415 May 415 calls, at $14.40 +118%
  • 07:27 | Ecstatic Plays AAPL ($426.80) Sold to Close 0503C415 May 415 calls, at $13.40 +103%
  • 07:12 | Ecstatic Plays AAPL ($242.50) Sold to Close 0503C415 May 415 calls, at $11.45 +73%

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

A lot of names that took big drops last month are starting to turn around. For instance, FDX, SAP, and RAX are all turning bullish. Data storage stocks are drawing buyers again. Both WDC and STX had a big week last week. We’ll take a closer look at some of the lagging sectors this evening. Now that the major market indices are at new all-time highs, are retail investors going to come back into the game? Dip-buyers have been buying on every dip. On Wednesday, I said, "Every time the market pulled back, big buyer came in and drove the market even higher!" I also commented, "This market is so strong, we might not see much of a pullback." If you’re still on the sidelines, it’s time to join the party!

Stay tuned… I’ll be back later on this evening with next week’s Market Forecast!

HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

April 2013 Monthly Wrap-Up: AAPL, PNC, BA, CTXS, PCLN, JOY, HLF, SODA, AMZN

May 1, 2013 – 7:34 pm

The market has been up every month since the beginning of this year! Every time the market pulled back, big buyer came in and drove the market even higher! This month was no exception. Two weeks ago, stocks took a breather and experienced some profit-taking. But, another week later, we were looking at new highs again!

We’ve had a very nice month, with most of our trades on the plus side! This week, AAPL calls gave us a nice +118% gain! BA earnings play scored a +114% profit. PCLN puts was a nice intraday +126% win on a quick pullback! CTXS puts were a play on IBM earnings and took in a near-triple. There were many other great trades, and here they are:

  • 12:28 | Ecstatic Plays FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +23%
  • 12:26 | HappyTrading FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +28%
  • 07:39 | Ecstatic Plays AAPL ($428.00) Sold to Close 0503C415 May 415 calls, at $14.40 +118%
  • 07:27 | Ecstatic Plays AAPL ($426.80) Sold to Close 0503C415 May 415 calls, at $13.40 +103%
  • 07:12 | Ecstatic Plays AAPL ($422.50) Sold to Close 0503C415 May 415 calls, at $11.45 +73%
  • 11:15 | Ecstatic Plays AAPL ($415.70) Sold to Close 0503C415 May 415 calls, at $6.00 +22%
  • 11:44 | HappyTrading SOHU ($50.50) Sold to Close 05C50 May 50 calls, at $2.60 +36%
  • 06:53 | Ecstatic Plays PG ($77.85) Sold to Close 05P77.5 May 78 put, at $1.51 +28%
  • 09:57 | Ecstatic Plays AAPL ($413.90) Bought to Open 0503C415 May 415 calls, at $4.90 (EXPIRED)
  • 11:48 | HappyTrading CELG ($119.70) Sold to Close 05P120 May 120 put, at $4.10 +32%
  • 09:52 | Ecstatic Plays PNC ($68.00) Sold to Close 05C67.5 May 68 calls, at $1.41 +57%
  • 09:36 | HappyTrading CREE ($57.60) Sold to Close 05C55 May 55 calls, at $3.80 +9%
  • 07:11 | Ecstatic Plays WYNN ($131.50) Sold to Close 05C130 May 130 calls, at $4.85 +43%
  • 06:54 | HappyTrading HES ($70.10) Sold to Close 05C67.5 May 68 calls, at $3.45 +25%
  • 06:44 | HappyTrading HES ($70.00) Sold to Close 05C67.5 May 68 calls, at $3.40 +23%
  • 06:37 | HappyTrading BA ($92.40) Sold to Close 05C87.5 May 88 calls, at $5.10 +114%
  • 09:50 | Ecstatic Plays WYNN ($129.00) Sold to Close 05C130 May 130 calls, at $3.50 +13%
  • 09:34 | HappyTrading CREE ($57.87) Sold to Close 05C55 May 55 calls, at $4.90 +40%
  • 07:46 | Ecstatic Plays GOOG ($814.20) Sold to Close 0426C810 Apr 719 calls, at $9.00 +34%
  • 12:01 | Ecstatic Plays GOOG ($801.30) Sold to Close 0426C800 Apr 800 calls, at $8.10 +9%
  • 07:22 | HappyTrading OXY ($79.50) Sold to Close 05P80 May 80 put, at $2.70 +46%
  • 07:16 | Ecstatic Plays BIDU ($86.25) Sold to Close 05P87.5 May 88 put, at $4.85 +3%
  • 07:05 | Ecstatic Plays CTXS ($66.70) Sold to Close 04P70 Apr 70 put, at $3.30 +187%
  • 09:15 | HappyTrading OXY ($80.50) Sold to Close 05P80 May 80 calls, at $2.29 +24%
  • 08:52 | Ecstatic Plays CTXS ($67.70) Sold to Close 04P70 Apr 70 put, at $2.25 +96%
  • 08:32 | Ecstatic Plays PCLN ($690.30) Sold to Close 04P700 Apr 700 put, at $11.30 +126%
  • 07:06 | Ecstatic Plays PCLN ($695.80) Sold to Close 04P700 Apr 700 put, at $8.30 +66%
  • 07:01 | Ecstatic Plays AAPL ($413.30) Sold to Close 04C425 Apr 425 calls, at $1.08 -77%
  • 08:01 | Ecstatic Plays VLO ($39.15) Sold to Close 04P40 Apr 40 put, at $1.25 +6%
  • 07:41 | HappyTrading BIDU ($89.75) Sold to Close 05C90 Apr 90 calls, at $1.34 -31%
  • 07:14 | Ecstatic Plays BIDU ($89.60) Sold to Close 04C90 Apr 90 calls, at $1.25 -36%
  • 12:11 | Ecstatic Plays PSX ($60.50) Sold to Close 04P60 Apr 60 put, at $1.00 -26%
  • 08:34 | HappyTrading AIG ($39.90) Sold to Close 04C39 Apr 39 calls, at $1.07 -24%
  • 07:48 | Ecstatic Plays DDD ($34.50) Sold to Close 04C35 Apr 35 calls, at $0.60 -56%
  • 07:46 | Ecstatic Plays AAPL ($431.80) Sold to Close 04C440 Apr 440 calls, at $3.15 -33%
  • 07:06 | Ecstatic Plays NFLX ($175.20) Sold to Close 04C170 Apr 170 calls, at $7.80 +20%
  • 06:58 | HappyTrading JOY ($52.10) Sold to Close 04P55 Apr 55 put, at $3.15 +184%
  • 10:56 | Ecstatic Plays HLF ($39.20) Sold to Close 04C40 Apr 40 calls, at $1.75 +59%
  • 09:19 | Ecstatic Plays AAPL ($434.70) Sold to Close 04C440 Apr 440 calls, at $4.70 -6%
  • 09:06 | HappyTrading LVS ($55.00) Sold to Close 04C52.5 Apr 53 calls, at $2.70 +8%
  • 07:16 | HappyTrading SODA ($53.90) Sold to Close 04C50 Apr 50 calls, at $4.00 +63%
  • 07:11 | HappyTrading SODA ($53.77) Sold to Close 04C50 Apr 50 calls, at $3.80 +55%
  • 11:46 | HappyTrading SODA ($52.20) Sold to Close 04C50 Apr 50 calls, at $2.45 +26%
  • 11:45 | Ecstatic Plays QCOM ($67.35) Sold to Close 04C65 Apr 65 calls, at $2.52 +20%
  • 11:43 | HappyTrading QCOM ($67.35) Sold to Close 04C65 Apr 65 calls, at $2.52 +20%
  • 07:32 | HappyTrading GLD ($152.10) Sold to Close 04C152 Apr 152 calls, at $0.70 -53%
  • 11:20 | Ecstatic Plays LVS ($54.20) Sold to Close 04P52.5 Apr 53 put, at $0.63 -70%
  • 10:48 | HappyTrading AMZN ($255.00) Sold to Close 0412P255 Apr 255 put, at $3.40 +28%
  • 07:20 | HappyTrading AMZN ($254.00) Sold to Close 0412P255 Apr 255 put, at $4.30 +62%
  • 09:16 | Ecstatic Plays WHR ($111.50) Sold to Close 04P115 Apr 115 put, at $4.50 +36%
  • 08:13 | Ecstatic Plays WHR ($112.00) Sold to Close 04P115 Apr 115 calls, at $4.00 +21%
  • 11:55 | HappyTrading CERN ($92.30) Sold to Close 04C95 Apr 35 calls, at $1.00 -33%
  • 08:11 | Ecstatic Plays BIDU ($88.20) Sold to Close 04C87.5 Apr 88 calls, at $2.42 -7%
  • 07:10 | HappyTrading LNKD ($173.80) Sold to Close 04P170 Apr 170 put, at $3.75 +7%
  • 06:57 | HappyTrading LNKD ($172.00) Sold to Close 04P170 Apr 170 put, at $3.90 +11%
  • 11:35 | HappyTrading STX ($36.75) Sold to Close 04C35 Apr 35 calls, at $2.31 +24%
  • 09:45 | Ecstatic Plays NFLX ($183.00) Sold to Close 0405P185 Apr 185 put, at $4.75 +23%
  • 07:17 | HappyTrading MNST ($47.80) Bought to Open 04P47.5 Apr 48 put, at $1.40 (EXPIRED)
  • 06:45 | HappyTrading STX ($35.80) Bought to Open 04C35 Apr 35 calls, at $1.86 (EXPIRED)

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

Stocks look a bit tired here. SPX 1600 was yet again denied. However, there were really no big sellers. Commodity sectors were weak today, as the Chinese PMI was lower than expected. This market is so strong, we might not see much of a pullback. As discussed this weekend in my Market Forecast, there’s support between SPX 1560 and 1570. We do have to be a little more careful though, as the market seems to have a hard time pushing through the 1600 mark. We’ll see if the dip-buyers will come in again and try taking SPX 1600 out in the next few days.

We’re not trading much right now, mostly just watching and holding cash. There’s no hurry to trade right now, unless SPX breaks 1600.

Good night and HappyTrading! ™

Sign up for FREE membership!

By HappyTrading | Posted in Uncategorized | Comments (0)

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XME, XLE, BTK, AMGN, BIIB, GILD, REGN, GILD, RIG, SLB, APC, OXY, EOG, CLF, WLT

April 28, 2013 – 9:26 pm

Last weekend, in my Market Forecat, I said,

"This market will need some strong earnings report to bounce back up. SPX 1570 could now become a resistance. The market will need to clear above 1580 to resume its bullish trend. On the downside, if 1540 does not hold, the next support is at 1520. Techs will take the center stage next week, with AAPL and AMZN being the heavyweights."

The market pushed higher on Monday. By Tuesday, SPX was above 1570 and was testing 1580. Earnings were mixed, but, the reactions to the reports were mostly positive. On Thursday, SPX pushed above 1590, but, couldn’t hold. The broader market ended at 1582.24, just above 1580.

We had an awesome week with 100% of our closed trades were in the GR$$N. Among the trades were +114% on BA calls, +57% on PNC calls, +43% on WYNN calls, and +32% on CELG puts.

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

For the week, the Dow was up +165.04 points; SPX added +26.99 points; Nasdaq gained +73.2 points. Gold enjoyed a nice bounce, trading above $1460/ounce. Oil also went higher, to around $92/barrel. At the time of this writing, Asian markets were mixed. Here’s how the US markets looked after Friday’s close:

SPX

On Friday, SPX slid 2.92 points to close at 1582.24. Its daily MAs and MACD were flat.

Nasdaq

Nasdaq fell 10.72 points to close at 3279.26. Its 10-day MA slipped, but, MACD went up.

The market had an impressive week, but, did not close on a strong note. For the new week…

To read the rest of this article, please subscribe to HappyTrading "Premium Articles" by going to the Premium Services (click here) page. If you are already a subscriber, please click here: Market Forecast 4/28/13.

By HappyTrading | Posted in Uncategorized | Comments (0)