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Market Consolidates for Another Day: GMCR, GS, JPM, BLK, MA, V, LVS, WYNN, SINA, GOOG, BIDU

|Includes:BIDU, BLK, Keurig Green Mountain Inc (GMCR), GOOG, GS, JPM, LVS, MA, SINA, V, WYNN

The market started the day with a weak tone, after weaker economic data from China and a disappointing earnungs report from JPM.  Financials were weak:  JPM -4.82%, GS -2.99%, BLK -1.51%.  However, credit card companies pushed higher:  MA +2.44%, +1.57%.  LVS and WYNN traded lower on China's data as well, down -1.37% and -4.67%, respectively.

While the market oscillated near the flatline, we were having fun trading fast trades in the Trading Room today, including GMCR weekly 90 puts, WYNN weekly 135 puts, SINA weekly 85 calls:
October 13, 2011 7:08 AM
good morning!

commodity sectors
all down on China data

SINA
up $5


October 13, 2011 7:17 AM
GMCR
took some profits on those 90 weekly puts at $4; could see $85 on GMCR  (GMCR day low $85.58)


October 13, 2011 7:20 AM
SINA
weekly 80 calls up 200%


October 13, 2011 7:35 AM

SINA
testing $85...


October 13, 2011 7:50 AM
WYNN
weekly 135 puts intraday double!

October 13, 2011 7:57 AM
WYNN
dropping

LVS
following...

China weak = LVS/WYNN down


October 13, 2011 8:00 AM
WYNN
weekly 135 puts flying!


October 13, 2011 8:04 AM

SINA
what a manipulated stock. are they driving this to $90? 80 weekly calls soaring


October 13, 2011 10:42 AM
SINA
$90!! amazing! weekly 85 calls more than doubled; actually it doubled in just 35 minutes earlier... from $2.7, now $5.7


October 13, 2011 10:43 AM
SINA
80 calls up +400%; open price was just $2.8; now asking $10.1
(SINA ended the day at $92.88 and those weekly 85 calls closed at $8.4!!)

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After the market, GOOG delivered another blowout quarter, sending its shares up +6.37%.  BIDU was up +2.18% this evening.

The Dow was down 40.72 points; SPX slid 3.59 points; Nasdaq gained +15.51 points:

Commodity sectors were down much more in the morning, but, managed to recovered some grounds.  XME (metals and mining), OIH (oil services), and XLE (energy) all ended only slightly off.  USO (oil) slid 0.82%.  SOXX (semiconductors), FDN (internet), and BTK (biotech) show more strength.  XLF (financials) was down 2.31%.

SPX

SPX slid 3.59 points to close at 1203.66.  Its 10-day MA and MACD went up.

Nasdaq

Nasdaq gained +15.51 points to close at 2620.24.  Its daily MAs and MACD glided higher.

The market has been consolidating since Tuesday.  It was impressive today that it managed to keeps its altitude even after China's weak economic data and JPM's disappointing earnings.  GOOG's strong quarterly report should inspire more buying in the tech stocks tomorrow.  The market has been testing SPX 1200.  On Wednesday, SPX pushed all the way up to 1220 when the financials rallied a bit.  But, we're back down to 1200 with JPM's earnings.  While techs are carrying the market, we'll need to see at least strength in mining and energy stocks for the broader market to push beyond its recent range, as financials may stay relatively weak for now.

Good night and HappyTrading! ™

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Stocks: GMCR, GS, JPM, BLK, MA, V, LVS, WYNN, SINA, GOOG, BIDU