The market was very strong today, especially in the last hour. Big volume buys before some key earnings reports on Tuesday. We continued to lock in profits as things raced higher. Financials were strong, off of JPM's strong earnings. Tuesday morning, C will report. GS comes on Wednesday morning. We locked in some profits on FAS, which we entered just on Wednesday, for a +69% gain! In the Trading Room, I have been calling out PNC and BLK as strong movers and potential breakouts for over a week. Both of these went up more than $3 today, and for PNC, it was a +5% jump.
AKAM experienced a huge volum jump within the last hour. We took some profits off the table as well, +67%. Here are the closed trades for the week:
- 12:38 | HappyTrading AKAM ($51.45) Sold to Close 01C47 Jan 47 calls, at $4.50 +67%
- 10:57 | HappyTrading FAS ($31.50) Sold to Close 01C30 Jan 30 calls, at $2.00 +69%
- 11:59 | HappyTrading CIEN ($25.35) Sold to Close 01C24 Jan 24 calls, at $1.50 +28%
- 07:07 | HappyTrading RIMM ($65.50) Sold to Close 01C62.5 Jan 63 calls, at $3.35 +103%
- 07:01 | HappyTrading RIMM ($65.25) Sold to Close 01C62.5 Jan 63 calls, at $3.10 +88%
- 07:10 | HappyTrading ATI ($57.00) Sold to Close 01P55 Jan 55 put, at $0.95 -55%
- 11:55 | HappyTrading DECK ($80.25) Sold to Close 01P75 Jan 75 put, at $0.80 -43%
(To find out mor about our trades, click HERE)
Monday is a market holiday for MLK Day. So, have a nice, long weekend. I'll be back on Monday with my Market Forecast for the new week.
Happy Friday and happy MLK Day Weekend!