MyHappyTrading's  Instablog

En fuego...this week doesn't get any better!!  We lit up the scoreboard like a pinball machine...What else to say other than these results?  MORE TO COME!

• May 01, 2009

  10:03 | Bagger Vance ANR ($23.50) Sold to Close ANRED May 20 calls, at $4.30 +187%

• 07:30 | Bagger Vance RIMM ($71.50) Sold to Close RFYEN May 70 calls, at $4.20 +58%
•  
• April 30, 2009
•  
• 07:30 | Bagger Vance ICE ($89.00) Sold to Close ICEER May 90 calls, at $4.30 -4%
• 07:27 | Bagger Vance ICE ($89.00) Sold to Close ICEER May 90 calls, at $4.30 +72%
• 06:35 | Bagger Vance GS ($129.00) Sold to Close GSEC May 115 calls, at $15.00 +58%
• 06:31 | Bagger Vance FSLR ($175.00) Sold to Close HJQEN May 170 calls, at $13.00 +160%
• April 29, 2009
• 09:10 | Bagger Vance LVS ($7.80) Sold to Close LJJEF May 6 calls, at $2.10 +91%
• April 28, 2009
• 09:43 | Bagger Vance PFCB ($32.50) Sold to Close HUOEF May 30 calls, at $3.20 +3%
• 09:41 | Bagger Vance MSFT ($20.00) Sold to Close MQFER May 18 calls, at $2.19 +56%

  Markets finished the week strong and above significant resistance (SPX 875).  Volume could have been better breadth was solid.  The rally continues, now it's eight weeks long.  Rotation is the key right now, with commodities, oil, and coal getting the bulk of the funds today.  That could change of course, as financials will be on the hot seat next week.  It'll be about employment and jobs too, and we think there could be some positive news.  Bonds were down as was gold today, while earnings continue to pace the action.

  Have a restful weekend...congratulations if you were in some of these HOT trades!!

  Hit 'em straight,

  Bagger

from MyHappyTrading.com by HappyTrading! ™ Sign up for FREE membership!

The market continued where it left off yesterday after a drop in jobless claims.  Strength was across the board.  We were 3 for 3 on last night's earnings play.  FSLR, ESRX, and V all reported well last night.  FSLR added +23.49% today!  Besides Bagger Vance's great play on May 170 calls, I played May 155 calls, which I picked up yesterday for $9.8.  Today, I sold them at $25 and $27 for +155% and +176% gains!

http://www.myhappytrad...

These options closed at $34 and went as high as $35.7.  I was aiming for FSLR to hit about $180.  It was so strong and kept on going to $190!!  But, hey, can't complain with an overnight gain of +176%!!

We also played V, May 60 calls, for its earnings.  We have been locking in profits for the past 2 days already:
April 29, 2009
12:40 | HappyTrading V ($63.25) Sold to Close VEL May 60 calls, at $4.60 +82%
April 28, 2009
12:59 | HappyTrading V ($61.00) Sold to Close VEL May 60 calls, at $3.30 +30%
09:33 | HappyTrading V ($61.85) Sold to Close VEL May 60 calls, at $3.70 +46%

Today, we cashed the rest out, as high as +177%:
April 30, 2009
06:42 | HappyTrading V ($66.80) Sold to Close VEL May 60 calls, at $7.00 +177%
06:36 | HappyTrading V ($65.50) Sold to Close VEL May 60 calls, at $6.00 +137%

These May 60 calls went as high as $8.1 and closed at $5.

The 3rd earnings play was ESRX.  We picked up May 60 calls two days ago at $3.5 and cashed them out today as high as +57% gain:
07:03 | HappyTrading ESRX ($64.90) Sold to Close XTQEL May 60 calls, at $5.50 +57%
06:51 | HappyTrading ESRX ($64.90) Sold to Close XTQEL May 60 calls, at $5.40 +54%

These options went as high as $6.9 and closed at $5.

We also picked up some GOOG calls yesterday, the same May 400 calls that we played last week.  We got as high as +53% profit on these:
09:50 | HappyTrading GOOG ($399.00) Sold to Close GOPET May 400 calls, at $10.30 +37%
08:19 | HappyTrading GOOG ($401.00) Sold to Close GOPET May 400 calls, at $11.50 +53%

We took profits on the way up!  And, got the last batch of GOOG calls out just when the market started to slide.  In our Trading Room, I said:
April 30, 2009 9:34 AM
market
don't like this sudden drop...

April 30, 2009 9:52 AM
GOOG
rest out for now +37%; let's see where things go.

mostly in cash now...

These GOOG calls went as high as $13 and closed at $8.5.  Our members locked in profits with us, as a new member exclaimed:
tka17 April 30, 2009 1:36 PM
Wow! Just joined MyHappyTrading on Monday. Still holding HERO and made 59% on GOPET in little over 1 hour of being in the position! Thanks for your guidance!...

In the afternoon, the market sank lower and oscillated around SPX 875.  The Dow closed down 17.61 (was up over +120 points); SPX slid just 0.83 points; Nasdaq eked out a gain of +5.36 points (was up over +40 points!):
http://www.myhappytrad...
SOXX (semiconductors) and PBW (clean energy; solar stocks) led the market with +2.78% and +2.75% gains, respectively.  BTK (biotechs) lost 2.49%.  GLD (gold) and SLV (silver) were weak.  GDX (gold miners) dropped 2.89%, while XME (metals and mining) added +2.62%.  XLF (financials) ended down 1.38%.  FXI (Chinese ADRs) was nearly flat.

SPX
http://www.myhappytrad...
SPX slid 0.83 points to close at 872.81, below 876 again.  Its 10-day MA flattened, and the MACD was unchanged.

Nasdaq
http://www.myhappytrad...
Nasdaq added +5.36 points to close at 1717.3.  Its daily MAs glided up.  The MACD was flat.

The market seems to have much problem breaking above SPX 875.  The techs are still stronger, with Nasdaq staying above 1700.  VIX closed in the green today; 34 seems to still provide support.  SKF (financial ultrashort) also closed green.  This may be a sign of buyers being a bit exhausted.  After 7 weeks of gains, it makes sense to lock in profits.  Thus, the market struggles to break higher.  Tomorrow is Friday and we have factory orders and car sales data.  Don't be shy to lock in profits.  We are once again mostly in cash.  We've had another great month and I'll write a "Wrap-up" article for April this weekend.  You don't want to miss this one, but, for now, you can check out Bagger Vance's closed trades for April!

Good night and HappyTrading! ™

from MyHappyTrading.com by Bagger Vance Sign up for FREE membership!

Before my write up, I want to share with you the closed trades from April, just getting warmed up here!

April 30, 2009

07:30 | Bagger Vance ICE ($89.00) Sold to Close ICEER May 90 calls, at $4.30 -4%
07:27 | Bagger Vance ICE ($89.00) Sold to Close ICEER May 90 calls, at $4.30 +72%
06:35 | Bagger Vance GS ($129.00) Sold to Close GSEC May 115 calls, at $15.00 +58%
06:31 | Bagger Vance FSLR ($175.00) Sold to Close HJQEN May 170 calls, at $13.00 +160%
April 29, 2009
09:10 | Bagger Vance LVS ($7.80) Sold to Close LJJEF May 6 calls, at $2.10 +91%
April 28, 2009
09:43 | Bagger Vance PFCB ($32.50) Sold to Close HUOEF May 30 calls, at $3.20 +3%
09:41 | Bagger Vance MSFT ($20.00) Sold to Close MQFER May 18 calls, at $2.19 +56%

April 16, 2009
12:47 | Bagger Vance RIMM ($67.50) Sold to Close RFYDM May 65 calls, at $2.60 +86%
12:46 | Bagger Vance MS ($23.50) Sold to Close MSDX May 23 calls, at $1.60 +39%
12:45 | Bagger Vance JPM ($33.00) Sold to Close JPMDE May 31 calls, at $2.50 +32%

April 09, 2009
12:45 | Bagger Vance JNPR ($18.40) Sold to Close JUXDJ Apr 16 calls, at $2.40 +50%
12:44 | Bagger Vance PRU ($27.00) Sold to Close PRUDF Apr 26 calls, at $2.10 +50%
12:43 | Bagger Vance RIG ($66.70) Sold to Close RKJDL Apr 60 calls, at $7.00 +100%
12:42 | Bagger Vance NOV ($33.40) Sold to Close NOVDS Apr 30 calls, at $3.70 +90%
12:40 | Bagger Vance ISRG ($112.00) Sold to Close AXQDA Apr 105 calls, at $11.20 +149%

End of the month and some action for both sides of the aisle.  Volume was about even with yesterday and breadth was a bit weaker, but the window dressing was still in motion.  Given how far the market has run we could see a breather.  Keeping it light is the best thing at this point, taking profits (as we did today) is good medicine.  Tomorrow starts a new month.  For reference, April was one of the best months in years.  Sell in May and go away?  It could happen, but we'll let the market tell us so.

Hit 'em straight!

Bagger