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MyHappyTradingTM is a social network site with a focus on the global financial markets. It is an online community where you can share your thoughts and your investment/trade ideas with the community and the network that you build. Our Basic Membership is FREE. MyHappyTradingTM provides you the... More
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  • Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, FDN, TAN, FAS, GS, WFC, JPM, BLK, STI, PNC, FSLR, CSIQ, SPWR, JKS, PCLN, GOOG, YELP, FB

    Last weekend, in my Market Forecast, I wrote:

    "For the new week, I would still be cautious. It has been a V-shaped reversal. Things don't normally come back up this fast! Things tend to fall faster than they rise. SPX is basically testing its all-time high. Nasdaq has completely regained its recent altitude. One thing that I have to point out, though, is how strong the semiconductor sector was last week. I think a consolidation is needed. On the upside SPX 1850 is the resistance. On the downside, SPX has support between 1820 and 1800."

    Indeed, markets traded in a tight range. It was really a stock (sector)-picking environment. We didn't trade much, but, still came away with a few winners:

    • 07:42 | HappyTrading STX ($51.10) Sold to Close 02C50 Feb 50 calls, at $1.10 +47%
    • 08:34 | HappyTrading VRTX ($84.25) Sold to Close 02C80 Feb 80 calls, at $4.30 -14%
    • 08:20 | HappyTrading SLB ($91.45) Sold to Close 02C87.5 Feb 88 calls, at $4.04 +19%
    • 07:45 | HappyTrading VHC ($20.20) Sold to Close 03C18 Mar 18 calls, at $2.85 +68%
    • 07:40 | HappyTrading WLP ($89.00) Sold to Close 02C87.5 Feb 88 calls, at $2.00 +94%

    (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 down 51.09 points; SPX slid 2.38 points; Nasdaq climbed +19.39 points. Gold ended slightly up, trading just above $1320/ounce. Oil pushed higher to above $102/barrel. At the time of this writing, Asian markets were lower. Here's were the US markets closed on Friday:

    SPX

    On Friday, SPX was down 3.53 points to close at 1836.25. The daily MAs and MACD were little changed.

    Nasdaq

    Nasdaq slid 4.13 points to close at 4263.41. The daily MAs and MACD crept up.

    Both SPX and Nasdaq basically traded 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 2/22/2014.

    Tags: GLD, FDN, TAN, FAS, GS, WFC, JPM, BLK, STI, PNC, FSLR, CSIQ, SPWR, JKS, PCLN, GOOG, YELP, FB
    Feb 23 10:46 PM | Link | Comment!
  • Buyers Keep Markets From Falling: TSLA, FB, AAPL, PCLN, CF, BIIB, UTHR, INCY, BMRN, ACT

    After a quick day of pullback, the markets bounced higher again today. It appeared as if some profit-taking was about to happen. But, buyers drove stocks back up again! TSLA popped +8.43% after reporting a strong quarter and giving a bullish forecast. FB traded lower initially after anouncing a $19 billion deal to buy Whatsapp, an online messaging platform. But, by the market close, FB shares were up more than +2%!

    AAPL was soft, down more than $6. PCLN was down in the morning, but, ended $9.24 higher on the eve of its earnings. After the market, PCLN shares jumped $18.59, as it easily beat its earnings estimates.

    CF had a huge day yesterday after delivering a better-than-expected quarter. Its shares trade up more than $20 in the morning on Wednesday, but, was capped by the overall market condition. CF shares traded back up today. Biotech stocks are still pushing higher. ACT has been on a 3-day tear, adding more than $9 today. BIIB, UTHR, INCY, and BMRN all added to their gains!

    The Dow was up +92.67 points; SPX add +11.03 points; Nasdaq gained +29.59 points:

    GDX (gold miners) popped +4.06%. GLD (gold) and SLV (silver) went up as well. BTK (biotech) added +2.13%. FDN (internet) climbed +1.24%. SOXX (semiconductor) stayed higher.

    SPX

    SPX gained +11.03 points to close at 1839.78. Its 10-day MA moved higher.

    Nasdaq

    Nasdaq added +29.59 points to close at 4267.55. Its daily MAs and MACD went up.

    This market has been pretty amazing. Although the recent pullback was sharp, after two weeks in January, things popped right back up again! The market has resistance between SPX 1840 and 1850. On the downside, it has support between 1820 and 1810. Gold seems to have found a bottom. Energy stocks are starting to turn bullish. I'm not in a hurry to trade right now. Let's keep cash and see if the market consolidates here.

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Tags: TSLA, FB, AAPL, PCLN, CF, BIIB, UTHR, INCY, BMRN, ACT
    Feb 20 11:10 PM | Link | Comment!
  • Big Moves On Earnings! SPX, Nasdaq, DDD, TWTR, YELP, GMCR, SFLY, LVS, WYNN, LNKD, EOG

    The market has been very volatile. This has rendered some huge moves on earnings! Downside trading has been even more pronounced as the investors rushed to lock in profits from 2013. Yesterday, DDD was down as much as 28% after slashing its profit estimate! We were there to capture a +335% gain on DDD puts:

    • 06:46 | HappyTrading LVS ($71.00) Sold to Close 02P75 Feb 75 put, at $4.60 +92%
    • 06:41 | HappyTrading LVS ($70.00) Sold to Close 02P75 Feb 75 put, at $4.70 +96%
    • 06:34 | HappyTrading DDD ($56.70) Sold to Close 02P75 Feb 75 put, at $18.35 +332%
    • 06:33 | HappyTrading DDD ($57.00) Sold to Close 02P75 Feb 75 put, at $18.50 +335%

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

    We also took profits on our LVS puts at +96% profit! WYNN also dropped sharply, but, rebounded today.

    Today, TWTR sank more than 24% on disappointing quarterly results and growth concerns. On the other hand, YELP shares soared on a strong quarter and outlook, up almost 19%! GMCR delivered a strong quarter and announced partnership with COKE, as COKE bought 10% of GMCR. SFLY fell more than 10% after giving soft guidance.

    After the market, LNKD shares were down more than 8% on weak outlook for 2014.

    The Dow was up +188.3 points to close at 15,628.53; SPX bounced +21.790 points; Nasdaq gained +45.57 points:

    Stocks bounced a bit after better jobs report. SOXX (semiconductor) was up +1.58%. XLF (financial) climbed +1.55%. PBJ (food and beverages) jumped +2.4%. HGX (housing) was up more than +3%.

    SPX

    SPX bounced +21.79 points to close right at its 10-day MA. It close below 1780. The MACD flattened.

    Nasdaq

    Nasdaq climbed +45.57 points and closed below its daily MAs. Its MACD was flat.

    After such sharp falls in the past 2 weeks, the markets bounced a bit. I think we could see some consolidation here. SPX has resistance between 1780 and 1800. Markets have been very volatile, almost swinging from day to day. So, we can't trade to fast in this market environment. Gold is holding around $1260/ounce. If it manages to establish a base here, we should see gold testing $1300. Energy stocks have sold off sharply in Jan. Some buyers are creeping back in. EOG looks like a good upside candidate!

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: DDD, TWTR, YELP, GMCR, SFLY, LVS, WYNN, LNKD, EOG
    Feb 09 5:13 AM | Link | Comment!
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