The bulls couldn't wait to get going and ran the markets up strong all day long. This was the biggest one day move in quite some time, you'd have to go back to Nov 16 to find the SPX up more than 1.5% on higher turnover. As one would expect breadth was spectacular on this day, with strong sector moves from commodities, coal, tech and even financials. Gold was shining as was oil, which closed sharply over $80 a barrel. The Santa Claus rally is still in effect too, and has two more days to go. Bonds were mixed while the dollar took a tank.
We added some new plays, which are working out nicely. Some names of interest include MON, APA, APC and STEC...and there are a host of others on a breakout. One area we like was casinos...we bought WYNN last week and LVS today, and in the room I posted this:
January 4, 2010 7:01 AM
POUNDING THE TABLE ON WYNN HERE
Frosty Muggs chimed in just after:
January 4, 2010 7:08 AM
WYNN - Well as long as you're pounding the table...
looking at Jan 60 Calls.
then he mentioned ths as the stock ran up 12%:
January 4, 2010 7:53 AM
Great call on WYNN Bagger Vance. I jumped on some Jan 60 Calls when you mentioned it this morning and it came down to its opening price ~$61.24
Thank you, Frosty!!
Finally...I put this out and believe WYNN can reach 70 (actually, our trade last week was put out on the WYNN 65 calls, sent to the trade alert members...u can sign up and get on these by clicking 3rd party below).
January 4, 2010 8:25 AM
this wynn has more upside
A fun day indeed! Look for some more upside before the market takes a breather.
Hit 'em straight!
Disclosure: WYNN, LVS: long