Wang’s Happy Trading

After a long weekend’s rest, the bulls continue to charge! The Dow added +91.12 points, while SPX added +15.43. But, the real buying was in the techs! Nasdaq gained another +33.88 points on top of Friday’s +31-point gain!

Most sectors were green with semiconductors (SOX), biotechs (BTK), and the Internets (INX2) capturing solid gains. Natural gas (UNG) finally decided to run with the market, jumping +3.89%. The oil services (OIH) had another solid day, adding +4.53 points!

We made very good money today and continued to cash things out at solid profits:

BIDU Sept 210 calls, BDUIB, at $13.5, +53.4% (more out)
FLR Sept 125 calls, FLRIE, at $7, +62.8% (all out)
AAPL Sept 135 calls, APVIG, at $10.2, +40% (all out)
SLB Nov 95 calls, SLBKS, at $9.2, +21% (partially out)
BIDU Sept 210 calls, BDUIB, at $16, +82% (more out)
GS Oct 190 calls, GPYJR, at $6.6, +43.5% (partially out)
IBM Oct 115 calls, IBMJC, at $6.4, +33.3% (all out)
GOOG Sept 520 calls, GOPIV, at $13.3, +66.3%
PCU Sept 100 calls, PCUIT, at $10.5, +94.4% (all out)
SLB Nov 95 calls, SLBKS, at $10.1, +32.9% (all out)
(see Happy Trades!! for more details)

This weekend, I said, “…I think we can see the market continuing its upwards momentum early in the week.” Techs were just on fire today! GOOG traded as high as $528, and closed up $9.9, at $525.15. AAPL were up as much as +7 points and closed at $144.16, +5.68 points. Even YHOO jumped +5.46%!

SPX

SPX closed at 1489.42, pulling above the daily MAs and closer to the daily upper BB. The 10-day MA has already crossed above the 30-day MA and the MACD continues to rise.

Nasdaq

Nasdaq closed at 2630.24, already above 2625, the level that I pointed out this weekend as a signal of a full recovery. Nasdaq has already caught up with its daily upper BB and can start riding it higher, as the MACD continues to rise!

EXC raised its full-year guidance and announced a $1.25 billion share buyback this morning! Its stock jumped +4.02% today. After the market, YHOO announced that it is buying BlueLithium, an online advertising network, for $300 million. Its shares were up slightly in AH trading. This should bring interest back to VCLK again. VCLK was up +2.1% in AH, on top of the +2.3% gain during the regular session. Buyout rumors on CREE got going today again, sending its stock up more than +3% today. LEAP jumped more than +15% today and almost reached $85/share, as a takeover bid came from MetroPCS Communications Inc for $75.05! Looks like investors are looking for the final deal to be much higher! LEAP’s 52-wk high is $99.04. I think GLDN also looks interesting in this sector.

Good night and HappyTrading! ™

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