Wang’s Happy Trading

The overall market was flat today, but, the techs were strong! Nasdaq closed up +15.5 points; the Dow managed a small gain of +19.59 points, while SPX lost just 0.52.

We continued to cash in on some profits today. We hit a jackpot with FMCN, which gave us an +150% gain in one day! These Chinese ADRs continue to go higher! Check out this article and my Sector Watch for the week.

WYNN Oct 160 calls, UIPJL, at $7.1, +10.9% (partially out)
TSL Oct 50s, TSLJJ, at $9.8, +42% (partially out)
FMCN Oct 50 calls, QOHJJ, at $8.3, +144% (partially out)
EMC Oct 19 calls, EMCJT, at $1.9, +35.7% (more out)
FMCN Oct 50 calls, QOHJJ, at $8.5, +150% (all out)
EMC Oct 19 calls, EMCJT, at $1.9, +57.1% (all out)
(see Happy Trades!! for more details)

Here’s how the market closed:

SWH (software) was strong today, gaining +1.1%. INX2 (Internets) and SOX (semiconductors) made some good gains. BTK (biotechs) took another breather. FXI (Chinese ADRs) managed yet another “green” day!

SPX

SPX was flat again, losing 0.52 points to close at 1517.21. Its MACD is flat, but, the daily MAs still look good. We still need to see it bounce above 1520.

Nasdaq

Nasdaq was strong today gaining +15.5 points to close at 2683.45. It is climbing back towards its daily upper BB. Its MACD and daily MAs look strong and continue to rise. Investors seem to be buying up techs!

AAPL went above $150 for the first time today and made a new all-time high of $153.22!! It is trading higher still in AH trading! FMCN, which I mentioned earlier, jumped +19.15%, as an internal probe found no improper acts. FMCN hit a new all-time high of $58.48 and closed at $57.79. VCLK spiked up for the second straight day, as buyout rumors started circulating again! Its shares jumped +12.95% today and is trading up another +2% in AH! NVT jumped +10.89% today as it announced a few new business developments. It made a new all-time high of $78 and closed at $77.62. I think NVT can go higher from here!

Good night and HappyTrading! ™

Get Wang’s World in your email for FREE!