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

    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.

    Tags: GLD, FDN, XLE, XME, GOOG, PCLN, CRM, EQIX, TSO, HES, MPC, WLT, CLF, CMI, JOY
    May 12 11:38 PM | Link | Comment!
  • Weekly Wrap-Up 5/12/13: SWKS, FFIV, CF, GOOG, SOHU, SINA, APC, SLB, FB, PCLN, EXPE

    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!

    Tags: SWKS, FFIV, CF, GOOG, SOHU, SINA, APC, SLB, FB, PCLN, EXPE
    May 12 1:52 PM | Link | Comment!
  • 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

    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.

    Tags: XLE, SOXX, FDN, XLF, GOOG, HES, OXY, GS, C, BRCM, MA, PCLN, APA, PNC, NOV, V, SLB, APC, ASML, XLNX, LNKD, YELP
    May 06 1:59 AM | Link | Comment!
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