This market just keeps pushing higher and higher! SPX made a new all-time high again, at 1989.23, just shy of 1990! AAPL's blase earnings was good enough for investors buy more, up +2.61%. Out of the gate, biotech stocks jumped. PBYI grabbed the spotlight by gaining +295% in one day, from a previous close of $59.03 to $233.43, and an intra-day high of $241.42! The company reported positive results in its *** cancer drug. Just 10 contracts of Aug 65 calls would have easily turned $5,900 to $160,000 to $170,000! At the beginning of this year, ICPT jumped from around $72 to nearly $500 in just 2 days!! BIIB's +11% rise after a strong quarter was greatly dwarfed in comparison. CELG climbed almost +3% ahead of its earnings.
CMG has risen about $70 since its quarterly report on Monday. ISRG popped more than +17%, after delivering a strong quarter. I think ISRG could be on its way to above the $500 mark! The "ugly duckling" of the day was XLNX, which fell more than 14% of soft revenue outlook. After the market, FB shares popped to a new all-time high, trading above $75/share, as its revenue rose +61%.
We have been locking in profits as this market keeps rising:
- 07:30 | HappyTrading SINA ($49.40) Sold to Close 08C47.5 Aug 48 calls, at $3.50 +29%
- 07:11 | HappyTrading FB ($70.20) Sold to Close 08C65 Aug 65 calls, at $6.55 +56%
- 08:58 | Ecstatic Plays VMW ($96.75) Sold to Close 08C95 Aug 95 calls, at $6.00 +50%
- 07:26 | Ecstatic Plays HLF ($57.00) Sold to Close 0725P52.5 Jul 53 put, at $1.50 -54%
- 07:21 | HappyTrading FB ($69.20) Sold to Close 08C65 Aug 65 calls, at $5.80 +38%
- 06:49 | HappyTrading SINA ($49.00) Sold to Close 08C47.5 Aug 48 calls, at $3.40 +25%
- 06:32 | HappyTrading BIDU ($199.80) Sold to Close 0725P190 Jul 190 calls, at $12.00 +35%
Our calls on BIDU, SINA, VMW, and FB did really well!
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As stocks keep climbing, more and more individual trader/investors are returning to the markets. I'm going to bring back the good ol' buy-one-get-one-free deal for a month! Until the end of August, if you subscribe to a new service, you'll get another service of your choice for FREE!
The Dow was down 26.91 points; SPX added +3.48 points; Nasdaq gained +17.68 points:
SOXX (semiconductor) went down 2.3 (after XLNX's report). BTK (biotech) popped +2.22%. FDN (internet) went up slightly.
SPX
SPX added +3.48 points to close at 1987.01. Its daily MAs and MACD went up.
Nasdaq
Nasdaq gained +17.68 points to close at 4473.7. Its daily MAs and MACD also went up.
Are buyers chasing stocks now? Although SPX and the Dow are at all-time highs, tech stocks still seem to have a lot of room to go higher. FB's strong earnings should give the internet stocks another boost tomorrow, although TRIP stumbled on its own foot as its EPS missed. Nasdaq's recent high was 4485. Let's see if it can make a new breakout! We'll be keeping an eye on AAPL for $100+!
Good night and HappyTrading! ™
