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Market Rallies Higher: SPX, Nasdaq, AAPL, CRM, MCP, AMZN, RIMM, FFIV, NOV, OXY, APA, BIDU, SOHU, SINA, CF, AGU, MON

|Includes: Apple Inc. (AAPL), AMZN, APA, BB, BIDU, CF, CRMIQ, FFIV, MON, NOV, NTR, OXY, SINA, SOHU

The market started out a little weak.  Last night, the passing of Steve Jobs, a true visionary of our generation, was all over the news.  AAPL shares were a little on the weak side at open, but, it quickly recovered.  It went up almost to $385 late in the morning, and we cashed out our weekly AAPL 375 calls at $9, for an overnight +45% gain.  The market has been volatile, and, we have been taking our quick profits.  Here are the closed trades in the past 2 days:

  • October 06, 2011
  • 12:08 | HappyTrading MCP ($38.00) Sold to Close 1014C35 Oct 35 calls, at $4.10 +37%
  • 08:02 | HappyTrading CRM ($121.60) Sold to Close 10C120 Oct 120 calls, at $6.50 +38%
  • 07:57 | HappyTrading GLD ($159.80) Sold to Close 1007C160 Oct 160 calls, at $1.40 -22%
  • 07:22 | HappyTrading AAPL ($381.60) Sold to Close 1007C375 Oct 375 calls, at $9.00 +45%
  • October 05, 2011
  • 11:26 | HappyTrading RIMM ($23.45) Sold to Close 1007C23 Oct 23 calls, at $1.05 +17%
  • 11:07 | HappyTrading AMZN ($218.40) Sold to Close 1007C215 Oct 215 calls, at $6.00 +20%
  • 09:08 | HappyTrading RIMM ($24.00) Sold to Close 1007C23 Oct 23 calls, at $1.50 +67%
  • 06:51 | HappyTrading FFIV ($77.90) Sold to Close 1007C75 Oct 75 calls, at $3.90 +56%

Yesterday, in the Trading Room, we have been trading weekly calls on AAPL, AMZN, and BIDU:
October 5, 2011 7:35 AM
AAPL
looking to go green...

October 5, 2011 8:02 AM
AAPL
370 weekly calls doubled in 1 hour


October 5, 2011 8:39 AM
AMZN
flying...


October 5, 2011 9:04 AM
BIDU
got a good scalp on weekly 110 calls

AMZN
got a good scalp on weekly 215 calls...


October 5, 2011 11:04 AM
AAPL
flying up to $380!


October 5, 2011 11:05 AM

AAPL
got a great trade on weekly 375 calls; $2 in 30 minutes!

AMZN weekly 215 calls went as high as $9.45 and closed at $7.27.  BIDU weekly 110 calls got a big jump today, closing at day high of $11.

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Energy stocks continued to be strong, which were mentioned on Tuesday.  OXY was up +3.75%.  NOV popped +7.91%.  APA added another +4.02%.  Chinese stocks bounced today:  BIDU +8.74%, SINA +2.89%, SOHU +6.41%.  Agriculture stocks have been on a tear since Tuesday morning.  Yesterday, they moved higher after MON's earnings report, which beat the estimates.  Today, they were equally strong:  CF +6.89%, AGU +4.19%, MON +7.61% (MON was upgraded today).

The Dow was up +183.38 points; SPX added +20.94 points; Nasdaq gained +46.31 points:

OIH (oil services) led the market, up +4.09%.  USO (oil) bounced +3.7%.  XME (metals and mining) added +2.26%.  XLF (financials) climbed +3.11%.  SLV (silver) hopped +5.19%.  MOO (agriculture) was up +3.43%.

SPX

SPX added +20.94 points to close at 1164.97.  Its 10-day MA and MACD turned up.

Nasdaq

Nasdaq gained +46.31 points to close at 2506.82.  Its 10-day MA and MACD also went up.

After reaching Tuesday's morning low, and testing SPX 1080 again n the last hour of trading on Tuesday, the market popped up and continued to sail higher.  We could see some profit-taking, especially going into the weekend.  We have been doing quick trades during the past two days and are back in mostly cash.  Tomorrow, we'll get the latest jobs data.  We'll have to see what the data say and how the market reacts. 

Good night and HappyTrading! ™

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