Wang’s Happy Trading

Welcome to our new site: Wang’s Happy Trading!! What’s known as the “Wang’s World” will now be “Wang’s Happy Trading”. Thanks to the team at Unique ID Web Design and Jared to get this new site up!

Besides the name change and a new address (URL), not much else has changed. It is still me, HappyTrading! ™, my “happy trades”, and a wonderful happy trading community!!

Please make sure you change all your links to this new address (URL):
www.wangshappytrading.com

Ok, let’s get right to the market! The market came back today to close just a little on the green side. The Dow was up +6.26 points. SPX gained +3.25, while Nasdaq garnered +4.14 points.

Here’s how various sectors did:

Most sectors were flat. USO (oil), UNG (natural gas), and OIH (oil services) were on the strong side. GLD (gold) and GDX (gold miners) also made solid gains. After yesterday big drop, FXI (Chinese ADRs) managed to win back $1.74.

SPX

SPX gained +3.25 points to close at 1542.84. It is still just below its July high (1550). The market is still trading sideways, but, it is in a healthy place. I’m holding cash and patiently waiting for new signals.

Nasdaq

Nasdaq shows a similar picture. It closed at 2733.57, up +4.14 points. The MACD is flat, while the daily MAs continue to rise.

This morning, GOOG said that it is closing the gap with BIDU in China. Its shares, however, dropped almost 5 points today, while BIDU gained $0.83. After the market, RIMM reported stellar earnings, with a revenue that more than doubled! Its shares gained +4.42% during the day, but, slid 2.04% in AH trading! ITWO continued to rise today as SAC Capital raised its stake in the company and called for a sale! ITWO gained almost +3% in the regular session and added another +1.2% in AH.

Good night and HappyTrading! ™