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Market Rests Ahead Of Unemployment Report + Holiday Stocks: SPX, Nasdaq, GLD, IBM, SNDK, GOOG, LULU, AAPL, AMZN, FDX, UPS, MA, V

|Includes: AAPL, AMZN, FDX, SPDR Gold Trust ETF (GLD), GOOG, IBM, LULU, MA, UPS, V, WDC

Yesterday's rally on global central banks' coordinated action to inject more liquidity into global financial systems gave global markets a strong support that they needed.  The US market indices popped more than +4% (actually a little less than Europe and Asia, which went up more than +5%).  Today, the market stalled again, ahead of the unemployment report tomorrow.

We locked in more profits from our published trades:

  • 11:49 | HappyTrading IBM ($189.94) Sold to Close 12C190 Dec 190 calls, at $3.30 +74%
  • 11:44 | HappyTrading SNDK ($49.75) Sold to Close 12C48 Dec 48 calls, at $2.88 +29%
  • 10:32 | HappyTrading GLD ($170.00) Sold to Close 12C168 Dec 168 calls, at $4.20 +42%

From the Ecstatic Plays, we scored a +157% overnight gain on GOOG weekly calls:

  • December 01, 2011
  • 06:45 | Ecstatic Plays GOOG ($605.00) Sold to Close 1202C600 Dec 600 calls, at $7.20 +157%

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Holiday stocks did not perform too well today.  Retailers were on the weak side:  SHLD -4.72%, M -0.53%, TGT -1.04%, DECK -1.84%.  LULU was down 11% intraday on weak sales, but, managed to recover some of the loss to close down just 5%.  Online shopping seems to be doing ok.  AAPL added +1.5% and AMZN gained +2.52%.  However, AAPL and AMZN really didn't participate in yesterday's big rally.  FDX and UPS also pulled back a bit today.  Credit card stocks continued to rock higher:  MA added another $6.4 (up a whopping $35 so far this week!); V added +0.81%

The Dow was down 25.65 points; SPX slid 2.38 points; Nasdaq added +5.86 points:

Things were pretty flat.  No sector was up or down more than 1%.  XLE (energy) and XME (metals and mining) were down.  GLD (gold) and SLV (silver) also pulled back.  Technology sectors were slightly up.

SPX

SPX slid 2.38 points to close at 1244.58.  Its daily MAs flattened and the MACD went higher.

Nasdaq

Nasdaq added +5.86 points to close at 2626.2 (cool number!).  It closed at its 30-day MA.  The MACD went up.

The market has basically rallied 3 days straight and it took a pause today ahead of the unemployment report tomorrow.  We may need to see a couple of more days of consolidation even if the jobs report is benign to good tomorrow.  It'll take a surprisingly strong positive jobs number to push this market higher tomorrow.  We've taken a lot of money off the table and are now back to mostly cash.  We'll see if the market can work off some of this week's fast-rising steam while holding its altitude.  If the market stays strong, watch the above-mentioned holiday stocks!

Good night and HappyTrading! ™

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