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  • PCLN, BIDU, NTES, FSLR, WYNN, QIHU, VIPS, GS, CELG, AMGN, CELG, BIIB, AA, JOY, CMI

    After hitting below 1840 on the SPX on Tuesday morning, buyers started to trickle in. Today, after the Fed minutes indicated that it would be cautious towards raising interest rates, stocks bounced. Given that techs have been tumbling, buyers piled in on internet and biotech stocks. PCLN popped $47! CELG jumped more than $9. BIIB was up over +5%. REGN gained nearly $20. FSLR got an target boost on Tuesday and popped right back up above $73. BIDU, NTES, and QIHU have been leading the bounce in Chinese internet stocks. WYNN vaulted +3.5% today. VIPS bounced more than $20 in the past 2 days!

    While things bounced we locked in our profits on the downside plays just in time (mostly on Monday)! Our puts on biotechs and financials rewarded us handsomely:

    • 11:29 | HappyTrading AMGN ($119.80) Sold to Close 04P125 Apr 125 put, at $5.75 +77%
    • 11:18 | Ecstatic Plays CELG ($136.00) Sold to Close 04P145 Apr 145 put, at $9.40 +127%
    • 11:07 | HappyTrading AMGN ($118.00) Sold to Close 04P125 Apr 125 put, at $7.08 +118%
    • 08:11 | HappyTrading GS ($160.10) Sold to Close 04P165 Apr 165 put, at $5.80 +115%

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

    All 3 trades gave us triple-digit gains!

    The Dow was up +181.01 points; SPX gained +20.22 points; Nasdaq jumped +70.91 points (+1.72%!!):

    BTK (biotech) jumped +3.81%! IGV (software) bounced +1.84%. FDN (internet) popped +2.44%.

    SPX

    SPX gained +20.22 points to close at 1872.18. It closed above its daily MAs. The MACD flattened.

    Nasdaq

    Nasdaq popped +70.91 points to close at 4183.9. It barely closed above its 10-day MA.

    Even though stocks bounced, Nasdaq is still deep in a bearish formation. SPX, on the other hand, seems much healthier; but, it is still, at best, neutral. AA climbed +3.75% after reporting its earnings. The whole metals and mining sector has been largely ignored in the past year. It is now starting to show some signs of awakening. Perhaps some of the funds are starting to come in from techs. We'll start to pay more attention as well. JOY and CMI look very interesting.

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Tags: PCLN, BIDU, NTES, FSLR, WYNN, QIHU, VIPS, GS, CELG, AMGN, BIIB, AA, JOY, CMI
    Apr 10 3:59 AM | Link | Comment!
  • March 2014 Monthly Wrap-Up: FSLR, WYNN, GLD, SFUN, GS

    March was a really volatile month. Things certainly turned bearish fast. Techs were weak, but, the broader market tried its best to hold up. SPX even made a new all-time just this past week!

    We traded in on both sides and found profitable trades on both sides. SFUN calls were a quick double. WYNN puts were even more profitable. Our long-side bets on financials also worked out well, rendering a +103% on FAS calls. GLD calls gave us another +77% gain. As you can see, we slowed down our trades quite a bit. In volatile markets, you really have to allow time for the trades to work out. I find that the weeklies are too risky now, so, we are trading much further out. Here are the closed trades for March:

    • 10:28 | HappyTrading AAPL ($565.80) Sold to Close 04C545 Apr 545 calls, at $9.00-3%
    • 09:38 | Ecstatic Plays WYNN ($213.00) Sold to Close 04P230 Apr 230 put, at $17.40 +149%
    • 08:11 | Ecstatic Plays WYNN ($217.50) Sold to Close 04P230 Apr 230 put, at $14.00 +100%
    • 06:51 | Ecstatic Plays FSLR ($62.30) Sold to Close 03C57.5 Mar 58 calls, at $5.25 +38%
    • 06:51 | Ecstatic Plays FSLR ($62.30) Sold to Close 03C57.5 Mar 58 calls, at $5.20 +37%
    • 07:41 | HappyTrading QCOM ($77.39) Sold to Close 03C75 Mar 75 calls, at $2.45 +24%
    • 10:15 | HappyTrading CF ($250.70) Sold to Close 03P255 Mar 255 put, at $5.89 +12%
    • 09:51 | HappyTrading GLD ($132.60) Sold to Close 03C130 Mar 130 calls, at $3.06 +77%
    • 09:09 | Ecstatic Plays VIX ($16.50) Sold to Close 0416C15 Apr 15 calls, at $2.50 +16%, partially expired
    • 07:53 | Ecstatic Plays GLD ($131.65) Sold to Close 03C129 Mar 129 calls, at $3.05 +35%
    • 08:17 | Ecstatic Plays LNKD ($205.80) Sold to Close 03C210 Mar 210 calls, at $5.85 +22%
    • 09:48 | Ecstatic Plays LNKD ($210.30) Sold to Close 03C210 Mar 210 calls, at $7.10 +21%
    • 09:21 | Ecstatic Plays FAS ($94.50) Sold to Close 03C88 Mar 88 calls, at $7.30 +103%
    • 07:10 | Ecstatic Plays FSLR ($58.50) Sold to Close 03C57.5 Mar 58 calls, at $4.40 +16%
    • 07:08 | HappyTrading GS ($171.10) Sold to Close 03C165 Mar 165 calls, at $7.00 +56%
    • 06:36 | HappyTrading SFUN ($87.50) Sold to Close 03C80 Mar 80 calls, at $9.20 +109%
    • 09:26 | Ecstatic Plays FAS ($90.70) Sold to Close 03C88 Mar 88 calls, at $4.30 +19%
    • 09:01 | HappyTrading SFUN ($82.50) Sold to Close 03C80 Mar 80 calls, at $5.00 +14%
    • 09:32 | Ecstatic Plays LVS ($85.35) Sold to Close 03C82.5 Mar 83 calls, at $3.55 +29%
    • 06:47 | HappyTrading YNDX ($34.35) Sold to Close 03C37 Mar 37 calls, at $0.50 -76%
    • 06:43 | HappyTrading SODA ($38.12) Sold to Close 03C40 Mar 40 calls, at $1.20 -38%
    • 06:42 | HappyTrading CELG ($160.40) Sold to Close 03C165 Mar 165 calls, at $2.70 -33%

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

    Earnings will start next week. But, it looks like the momentum has shifted to the downside. We'll take a closer look in my Market Forecast!

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Tags: FSLR, WYNN, GLD, SFUN, GS
    Apr 06 11:20 PM | Link | Comment!
  • GOOG, PCLN, YELP, FB, QIHU, SFUN, SINA, SOHU, BIDU, WYNN, LVS

    Tech stocks were extremely weak. Across the board, investors were dumping tech shares. Internets were among the weakest. GOOG has fallen almost $80 in just 4 trading days, while PCLN tumbled about $120 during the same time frame. YELP has been on a continuous slide since breaking $100; it ended just above $77 today. FB pulled back from $72 to now $60.

    Chinese internets have also been falling. SFUN, SINA, SOHU, and BIDU all have been falling for more than 2 weeks now. Other China-related stocks such as WYNN and LVS also fell from their recent heights. We locked in on some nice gains on WYNN puts today:

    • 09:38 | Ecstatic Plays WYNN ($213.00) Sold to Close 04P230 Apr 230 put, at $17.40 +149%
    • 08:11 | Ecstatic Plays WYNN ($217.50) Sold to Close 04P230 Apr 230 put, at $14.00 +100%

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

    The Dow was down 98.89 points; SPX fell 13.06 points; Nasdaq dropped 60.69 points:

    FDN (internet) was down 2.41%. SOXX (semiconductors) dropped 1.11%. IGV (software) fell 1.73%. Even GLD (gold) and SLV (silver) were down!

    SPX

    SPX fell 13.06 points to close at 1852.56. It closed just below its 30-day MA.

    Nasdaq

    Nasdaq tumbled 60.69 points to close at 4173.58. It fell below its daily MAs. The MACD dropped sharply.

    Both SPX and Nasdaq closed below their respective daily MAs. The sentiment on the market has turned more and more bearish. I think the sharp drop in the biotechs last week was a good clue that fund managers were looking to sell. I had also mentioned last week that stocks needed to pull back before the new earnings season. Buyers tried to buy the dips, but, got burned today. Things are still going pretty much along what we discussed in my Market Forecast this weekend. So, let's just be patient. Downside trades have been working!

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Tags: GOOG, PCLN, YELP, FB, QIHU, SFUN, SINA, SOHU, BIDU, WYNN, LVS
    Mar 27 1:02 PM | Link | Comment!
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