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6/10/2011 A $uper Week: NFLX, WYNN, RIMM, MCP, GS, FSLR

|Includes:FSLR, GS, Wynn Resorts, Limited (WYNN)

The market took yet another hit this week.  We had a really good week with 100% of the closed trades in the green, as we focused our trades on the downside:

11:36 | HappyTrading NFLX ($258.80) Sold to Close 06P260 Jun 260 puts, at $5.50 +10%
07:31 | HappyTrading NFLX ($260.70) Sold to Close 06P260 Jun 260 puts, at $5.50 +10%
07:46 | HappyTrading MCP ($53.60) Sold to Close 06P55 Jun 55 puts, at $3.10 +29%
07:19 | HappyTrading RIMM ($37.90) Sold to Close 06P40 Jun 40 puts, at $3.20 +108%
07:07 | HappyTrading RIMM ($37.50) Sold to Close 06P40 Jun 40 puts, at $3.35 +118%
09:32 | HappyTrading WYNN ($137.90) Sold to Close 06P142 Jun 142 puts, at $5.70 +73%
09:21 | HappyTrading WYNN ($138.20) Sold to Close 06P142 Jun 142 puts, at $5.50 +67%
09:06 | HappyTrading WYNN ($138.70) Sold to Close 06P142 Jun 142 puts, at $5.00 +52%
12:14 | HappyTrading NFLX ($263.70) Sold to Close 0610P265 Jun 265 puts, at $6.00 +107%
11:42 | HappyTrading NFLX ($261.00) Sold to Close 0610P265 Jun 265 puts, at $7.20 +148%
11:21 | HappyTrading NFLX ($262.85) Sold to Close 0610P265 Jun 265 puts, at $6.20 +114%

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We even trade some calls in the Trading Room this afternoon (as the market did a quick pop) and got out before the close:
June 10, 2011 11:27 AM
FSLR
pushing up...


June 10, 2011 11:30 AM
GS
up 1.7


June 10, 2011 11:56 AM

GS/FSLR
still popping!


June 10, 2011 12:10 PM

FSLR
115 calls popped $1 in the last hour


June 10, 2011 12:15 PM
FSLR 115 calls
almost $5 (from $3.4)


June 10, 2011 12:24 PM
GS
got a nice scalp on 135 calls as well...

good money in just 1 hour!

It seemed that people were not only piling in on the short side, every bounce was met with more people getting out of their positions.  Energy stocks tried to rebound a couple of times, but, could not quite hold their gains.  The quick pop in the afternoon soon faded before the close and the market finished at near the day's low!

We are in mostly cash now.  I'll be back on Sunday with my weekly Market Forecast.

Have a wonderful weekend, everyone!

Good night and HappyTrading! ™

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Stocks: WYNN, BBRYIQ, GS, FSLR