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  • Market Hangs On... SPX, Nasdaq, IBM, GMCR, AAPL, CLF, FFIV, APKT, DELL, ADSK 0 comments
    Nov 15, 2011 8:18 PM | about stocks: IBM, GMCR, AAPL, CLF, FFIV, APKT, DELL, ADSK

    After yesterday's slide, the market manages to bounce a bit.  Most sectors were slightly up, led by the tech stocks.  IBM has been strong the past couple of days after Buffett announcing buying 5% of the company.  IBM shares jumped to a new all-time high on Monday morning, hitting above $190.  However, it was not able to hang on to the gain and ended the day in the red, pulled lower by the rest of the market.  Today, buyers came back and drove IBM higher, trying to regain Monday morning's high.  IBM was up +0.75% today. 

    GMCR, a badly beaten stock of late, jumped +13% today.  We were actually on the wrong side of the trade from yesterday, thinking that it could break down further.  We scrambled to get out the puts this morning.  But, we jumped right away to the other side and bought calls, which gave us more than a double, intraday, and more than made up for the loss on the puts:

    • November 15, 2011
    • 12:02 | HappyTrading GMCR ($47.50) Sold to Close 11C45 Nov 45 calls, at $3.25 +126%
    • 11:13 | HappyTrading GMCR ($46.75) Sold to Close 11C45 Nov 45 calls, at $2.65 +84%
    • 07:32 | HappyTrading GMCR ($44.70) Bought to Open 11C45 Nov 45 calls, at $1.44
    • 06:56 | HappyTrading GMCR ($44.00) Sold to Close 11P40 Nov 40 put, at $0.37 -70%

    AAPL has also been very weak lately, but, it bounced +2.52% today.  After the market, AAPL announced new additions to its board with Art Levinson as chairman, and adding Disney's Chief Executive Officer Robert Iger as a director.  Among other leading stocks were CLF +4.79%, FFIV +1.8%, APKT +4.35%.

    After the market, DELL traded slightly lower with an in-line quarterly report while ADSK added +2%, beating its estimates.

    The Dow was up +17.18 points; SPX added +6.03 points; Nasdaq gained +28.98 points:

    XME (metals and mining) added +1.54%.  XLE (energy) was flat, but, USO (oil) went up +1.5%.  XLF (financials) was slightly up.  SOXX (semiconductors) gained +1.47%.


    SPX added +6.03 points to close at 1257.81.  It barely closed above its MAs, but, the MACD slid.


    Nasdaq gained +28.98 points to close at 2686.2.  Its daily MAs and MACD went up.

    The market indices seem to be still stuck in the recent range.  VIX closed above 31, demonstrating that the market is still cautious.  The boarder market has been treading water, swinging back and forth.  We are still trading lightly and keeping lots of cash until the market gives clearer signals.

    Good night and HappyTrading! ™

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