Wang’s Happy Trading

The market continued to move up today, but, not by a whole lot. The Dow added +34.79 points; SPX gained almost +6, while Nasdaq finished up with +10.56 points.

During the past couple of days, we continued to lock in profits:
9/27/07
sell to close
PCP Oct 140 calls, PCPJH, at $11.2, +10.9% (partially out)
GS Oct 200 calls, GPYJT, at $18.7, +5.6% (partially out)
GS Oct 200 calls, GPYJT, at $19, +7.3% (all out)
DRYS Oct 90 calls, DQRJR, at $5.5, +7.8% (partially out)
DRYS Oct 90 calls, DQRJR, at $6.4, +25.5% (all out)

9/26/07
sell to close
AMZN Oct 90 calls, ZQNJR, at $6, +50% (all out)
CTRP Oct 50 calls, QCTJJ, at $3.9, +14.7% (partially out)
CTRP Oct 50 calls, QCTJJ, at $4.1, +20.6% (all out)
TSL Oct 50s, TSLJJ, at $10.2, +47.8% (all out)
WYNN Oct 160 calls, UIPJL, at $6.6, +3.1% (all out)
(see Happy Trades!! for more details)

Although these profits are not huge, I’m “happy” to increase my cash position as the market glides upward to test the July highs.

Let’s see how the various sectors closed:

The sectors actually look pretty strong. One would almost expect bigger gains in the major indices! SOX (semiconductors) and INX2 (Internets) made solid gains. The commodity sectors rallied today! OIH (oil services), USO (oil), XME (metals and miners), GDX (gold minders), GLD (gold) all jumped! But, the throne still belonged to FXI (Chinese ADRs)! It pierced through $180 to close at $182.09, yet another new all-time high!!

SPX

SPX gained almost +6 points to close at 1531.38, about 20 points away from its July high. Its MACD is rising again, and the daily MAs are still strong.

Nasdaq

Nasdaq contines to climb higher along its daily upper BB. Its daily MAs and MACD are all strong. It closed at 2709.59 today, about 10 points away from its July high (2720). I think we can probably see it there tomorrow!

WYNN and LVS have just been incredible!! WYNN was at one point up more than +10 points today, registering a new all-time high at $168.80 (an very auspicious number for Chinese people by the way; maybe more of them will go to Macau because of it! ) However, WYNN was trading down by 3% after the market! There was news that the company registered with SEC to sell from time to time an unspecified amount of common stock. LVS also recorded a new all-time high at $142.75. But, it closed at only $137. It is trading slightly up in AH. ACN reported good earnings after the market. Its shares were up +1.32% in AH trading. DISH jumped +5.77% today to closed at $45.98. There were rumors that AT&T may be looking to buy it for $56 per share! DISH traded as high as $47.2 today!

Good night and HappyTrading! ™

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