Wang’s Happy Trading

This past week, we saw a lot of volatility, but the markets pretty much finished flat. The major indices (DOW, SPX, Nasdaq) did manage to gain a few points each. But, there were some pretty hot groups that made new highs.

I. Solar Plays
I wrote a post on this group on 6/27 and made some pretty sweet profits all week. I also mentioned FSLR as early as 6/5, and it just kept on flying!! Some of these stocks may need to vent a little, but, I think STP, SPWR, and WFR still have room to go.

II. Chinese Internet Stocks.
I posted an article on Thursday about this group and particularly focused on 6 stocks: BIDU, CTRP, NCTY, SOHU, SINA, SNDA. And, here is what they did on Friday, the next day:

Those are some pretty impressive performances! Out of these, I think SINA (which went as high as 43.27 on Friday), NCTY, and CTRP can have bigger advances (percentage-wise) next week. In particular, I like CTRP because PCLN just got upgraded on Friday.

III. Footwear
We all know that CROX has just been flying. This week, NKE reported well, and made a new all-time high on Friday, although it ended flat. Here are some other interesting stocks in the group:

I think NKE can go higher. CROX is so loved that anything can happen. HLYS seems to be recovering, but, might take some time to sort things out. DECK has also been flying (from 80 to 100 in a month) and may have some more room to go next week. VLCM may do well also.

USO (United States Oil Fund)
USO caught my attention this week as it jumped to close at 53!

It is now pushing its upper BB open, hinting for more upwards movement. So, we may want to keep an eye on the crude and energy-related stocks.

SOX

SOX failed again at breaking above 505 this week. But, its weekly MAs are still looking bullish. Let’s see if it can finally get some consistent upwards movements next week, with the new month. It is an important sector that can greatly affect the moods of the markets.

I’ll be back for the second part of my weekly forecast tomorrow. Hope you’re enjoying your weekend. I’m gonna go relax a bit by/in the pool/jacuzzi with some icy watermelon drink I made (watermelon blended with ice, nothing fancy, but, it’s soooooo good!!)!

Cheers,
HappyTrading! ™