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  • Flowing With the Wild Market! SPX, Nasdaq, GS, FFIV, LVS, AMZN, AAPL, GOOG, PCLN, CLF, EOG, OXY 0 comments
    Oct 4, 2011 5:13 PM | about stocks: GS, FFIV, LVS, AMZN, AAPL, GOOG, PCLN, CLF, EOG, OXY

    Well, if you were trading or just watching the market today, you were probably amazed by how fast the market moved!  The market started the day in a sea of red, with SPX hitting a day low of 1074.77 within the first 30 minutes of trading.  We quickly cashed out our puts, including a +136% overnight gain on GS weekly 90 puts:

    • October 04, 2011
    • 07:06 | HappyTrading LVS ($36.50) Sold to Close 1007P40 Oct 40 put, at $3.90 +24%
    • 07:05 | HappyTrading LVS ($36.50) Sold to Close 1007P40 Oct 40 put, at $3.95 +25%
    • 06:54 | HappyTrading GS ($84.90) Sold to Close 1007P90 Oct 90 put, at $6.50 +136%

    As the market bounced, we got into FFIV weekly 75 calls, and locked in profits in less about 35 minutes!

    • October 04, 2011
    • 08:31 | HappyTrading FFIV ($76.60) Sold to Close 1007C75 Oct 75 calls, at $3.50 +40%
    • 08:29 | HappyTrading FFIV ($76.70) Sold to Close 1007C75 Oct 75 calls, at $3.55 +42%
    • 07:53 | HappyTrading FFIV ($75.00) Bought to Open 1007C75 Oct 75 calls, at $2.50

    Immediately, I started to look at puts again.  In the Trading Room, I said:
    October 4, 2011 8:34 AM
    nice first 2 hours, winning on both sides. I'll check back in a little later. market is now churning between 1080 and 1100. Watch the downside.

    AMZN
    very weak...


    October 4, 2011 8:36 AM
    AMZN
    weekly 200 puts went up to $6.15 this morning. Now at $3.5. something worth looking at...

    We also added AAPL weekly puts:
    October 4, 2011 11:37 AM
    AAPL
    falling fast!!

    October 4, 2011 11:39 AM

    AAPL
    weekly 360 puts went from $4 to $6.8 in minutes!


    October 4, 2011 11:55 AM
    AAPL
    out at $8.5; what a rush!!
      (+113% in about 20 minutes!!  These puts went as high as $11.3 and closed at $2.5!)

    October 4, 2011 12:19 PM
    AMZN
    got another good scalp on the 200 weekly puts...
    (These 200 weekly puts went to $5 from $3.5 in about 3 hours.  They closed at $1.26.)

    Besides the AMZN 200 weekly puts, we also played the 210 weekly puts yesterday and cashed them out this morning for an overnight +111% gain:

    These AMZN weekly 210 puts went as high as $12 and closed at $3.8.

    As the market came down to 1080 again, we started to cash out on the puts.  In the Trading Room, I said,
    October 4, 2011 12:29 PM
    market
    watch your puts... going back to test 1100

    We turned right around and got back into the FFIV weekly 75 puts again.  In just 26 minutes, we took a gain of +52% before the market closed:

    • October 04, 2011
    • 12:57 | HappyTrading FFIV ($77.45) Sold to Close 1007C75 Oct 75 calls, at $3.80 +52%
    • 12:31 | HappyTrading FFIV ($75.50) Bought to Open 1007C75 Oct 75 calls, at $2.50

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

    The bounced off of 1080 was amazing.  PCLN hit a low of $411.26 at about 3:15pm (EST); it closed at $444, up $33 from the day low!  GOOG saw a day low of $480.6 and closed at $501.9, up $21 in 45 minutes!  AAPL sank down to $354 and bounced back to close at $372.5, up $18 from the bottom.  AMZN also bounced about $10 in that time frame.

    While the big tech names were see-sawing back-and-forth, energy and mining stocks were steadily climbing today.  EOG bounced +7.67%; CLF jumped +10.58%; OXY gained +6.82%.

    The Dow closed up +153.41 points; SPX added +24.72 points; Nasdaq gained +68.99 points:

    XME (metals and mining) was up 5%.  XLE (energy) added +3.27%.  SOXX (semiconductors) gained +4.25%.  FDN (internet) climbed +3.67%, most of which was in the last 45 minutes.  XLF (financials) closed up +4% (but, still below $12).

    SPX

    SPX added +24.72 points to close at 1123.95.  Its daily MAs and MACD were slightly down.

    Nasdaq

    Nadsaq gained +68.99 points to close at 2404.82.  Its daily MAs and MACD slid.

    This market is moving very fast, and if you stay nimble and flow with the market, you could catch some very nice trades on both sides.  Today we traded twice on the downside and twice on the upside.  All four segments got us some very nice gains.  We are once again back into mostly cash.  The bounce off of SPX 1080 was strong today, much of it was probably driven by short covering.  We could see another volatile day tomorrow.  SPX has resistance at 1140, and it could go back down to test 1100 to 1080 again.

    Good night and HappyTrading! ™

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    Stocks: GS, FFIV, LVS, AMZN, AAPL, GOOG, PCLN, CLF, EOG, OXY
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