Wang’s Happy Trading

FXI (Chinese ADRs)

I’ve been saying on the member site to look for the Hong Kong Index (HSI, Hang Seng) to top 30,000 for a while now:
HappyTrading
Posted October 12, 2007 at 12:58 pm | Permalink (Edit)
looking for Chinese ADRs for a jump on Monday. Still looking for HSI to top 30,000. FXI new high today and broke above $200. I like CHL. This is a non-published trade.

Last Thursday, I said again, on the members’ board:
HappyTrading
Posted October 25, 2007 at 8:49 am | Permalink (Edit)
Chinese ADRs/HSI
We might finally see HSI close above 30,000 tonight/tomorrow!

Sure enough, on Friday 10/26, HSI closed above 30,000, at 30,40522! The exhilarating thing is that it seems to want to go higher from here. If we take a look at FXI’s chart, it hasn’t even gotten back to the all-time high of $218.48, set on 10/17, yet. It closed above the daily MAs and the MAs are still strong in their bullish formation. So, we’ll continue to watch the Chinese ADRs with great interest. Please check Happy’s Watchlist for the ones that I’m watching.

XLF (financials)

XLF made a nice advance on Friday, with GS jumping more than +4% and MA adding +3.73%! XLF closed above its 10-day MA and the MACD is turning up! We’ll keep an eye on this sector as people position themselves before the Fed meeting on Wednesday.

INX2 (Internet)

INX2 looks really strong right now. It is pushing its daily upper BB open and is in a good position to start a new leg up! YHOO has been chargin up like it’s the 1990s! GOOG will likely to continue to benefit as this sector goes up. AMZN reported great earnings recently and hasn’t really gone anywhere. EBAY also had an unfavorable earnings reaction; but, did it really deserve it? Since we’re talking about EBAY, OSTK should be interesting also, which is at its new 52-wk high territory. With the sector being strong, it makes me want to look at VCLK, which has an added spice of being a potential buyout!

XME (metals and mining)

XME has broken above $67.5 and closed at a new all-time high of $69.67!! It is looking to go higher from here. BHP, FCX, and PCU are some of my favorites because of the “gold flavor”. Even some of the forgotten titanium and steel plays are now looking promising: ATI, RTI, X (jumped more than $6 on Friday), and NUE.

SWH (software)

After MSFT’s superb earnings on Thursday night, the software sector seems to have woken up again! SWH has caught its daily upper BB and seems ready to start a new leg up! Here are some of SWH’s top holders: .ADBE, BME, CA, CHKP, INTU, MSFT, ORCL, SAP, SYMC, TIBX

Hope you’ve had a fun weekend!
Good night and HappyTrading! ™