Wang’s Happy Trading

GLD/GDX/XME (gold/gold miners/metas and miners)

GLD has caught its daily upper BB and looks ready to go higher!

GDX is pretty much in the same place. Here’s GDX’s top holdings.

XME still looks healthy. Some of the high-flyers in this sector can really jump when they move. I still like FCX, PCU, and BHP.

Precious metals and miners may be safer sectors to play next week as most of their earnings will come later in the month. PKX, a Korean iron/steel company, is reporting on Tuesday (may be Monday evening our time).

OIH (oil services)

OIH topped $200 last week and set a new all-time high at $204.14. It has caught is daily upper BB and is pushing it open, hinting for more upwards movements. RIG, DO, SLB, and BHI all look strong; even NE is coming back!

INX2 (Internet)

The Internet sector has been so strong lately. INX2 just keeps on riding its daily upper BB higher. HHH may be a good way to collectively play this sector. GOOG, not surprisingly, has been leading the pack. AMZN may be worth keeping an eye on; it needs to first break $95, though. Even YHOO has been gaining momentum. If it breaks $30 after its earnings on Tuesday, it’ll send this sector into overdrive! PCLN also seems to be setting up for a breakout.

FXI (Chinese ADRs)

FXI made a new all-time high of $203 on Friday, closing at $202.89. It has recaptured its daily upper BB and is looking to go higher! PTR jumped $22.85 on Friday, almost +12% Looks like people are getting excited about its IPO in Shanghai later this month. BIDU came back more than $14 after Thursday’s sudden profit-taking that drove it down $35. JASO, added to my China playlist last week, made a new all-time high of $50.70 on Friday, closing at $49.25. Please see Happy’s Watch List for other “usual suspects”.

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Hope you’re enjoying your weekend!
HappyTrading! ™