MyHappyTrading's  Instablog

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! ™

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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.

What a nice week we've had! We traded mostly on the upside as the market bounced. But, we also caught a couple nice trades on the downside as the market consolidate towards the end of the week. 100% of our closed trades were in the GR$$N:

• 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%
• 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%

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

BA provided us with a nice overnight +114% on its earnings. PNC and WYNN were solid trades. GOOG calls were a nice quick intraday play. We are making some good adjustments. We were not trading weekly options much any more. The high-speed programmed trading is making those trades very difficult. So, we are giving ourselves more time on the options, and the results have been very good. Much more patience is needed in the present market environment.

The bulls and bears are fighting it out here in this 50-SPX-point range (1540 to 1590). We have been zig-zagging up and down within this range all month. On Thursday, SPX tested 1590 again, but, still could not break through. More earnings are coming in next week. Friday's stutter was not very encouraging. We take a closer look at the market on Sunday in my weekly Market Forecast.

Have a great weekend and HappyTrading! ™

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