Wang’s Happy Trading

Nice way to start the week! This weekend, in my Market Forecast, I said, “For the new week, I’m looking for the market to make some continuation of Friday’s rally, although we might still see volatility, especially early on Monday. We have another Fed meeting on Wednesday, so the gains early in the week may be a bit muted.” The market started high, but quickly dropped lower. Then, it spent the rest of the gliding up!

The Dow gained +63.56 points; SPX added +5.7; and, Nasdaq advanced +13.25 points. Solid gains, but, a little muted, as I had anticipated.

We actually did a lot better than how the major indices may be indicating. Much thanks to the Chinese ADRs. Lots of them were flying today (see my Sector Watch from this weekend): CEO +7.47%, EDU +6.56%, STP +12.73%, FMCN +8.41%, EFUT +22.77%, SOHU +7.23%, CTRP +5.55%, CYD +4.96%…and the list goes on! We have been playing these for a while now. There are many “unpublished” trades/trade ideas that only members who log onto the site and participate on the comments board will see. For instance, first thing this morning, before the market even opened, I said:
HappyTrading
Posted October 29, 2007 at 6:17 am | Permalink (Edit)
Good morning!

Looking at CTRP, FMCN, FSLR, PCU, FCX, GRMN, TSL
(note: CEO was up $15 in premarket)

and, there’s so much more… (note: the time stamps are PST, west coast time)
BillBigD
Posted October 29, 2007 at 6:41 am | Permalink (Edit)
EDU- screaming again LITH

Lithium Rocketbottle
Posted October 29, 2007 at 6:42 am | Permalink (Edit)
BBD

EDU rolled to nov 80’s on friday.

optiondragon
Posted October 29, 2007 at 6:56 am | Permalink (Edit)
loaded up on WYNN before the jump!!!!! bought nov 175 for 6.00, my orders fills were constantly being pulled!! it took 4 times buying at the ask to be filled unreal!

HappyTrading
Posted October 29, 2007 at 7:54 am | Permalink (Edit)
CEO/EDU
took some profits off the table (unpublished trades).

HappyTrading
Posted October 29, 2007 at 8:01 am | Permalink (Edit)
FMCN
screaming!!

BillBigD
Posted October 29, 2007 at 8:07 am | Permalink (Edit)
EDU-up $23 in 5 days. LOL stupid but Gracias

HappyTrading
Posted October 29, 2007 at 8:08 am | Permalink (Edit)
EDU
funnier thing is I think it wants to go higher!

optiondragon
Posted October 29, 2007 at 8:09 am | Permalink (Edit)
CF is going to destroy earnings

I just did some earnings history analysis, stock float and short interest data analysis and it looks very good.
I think it could be another DECK. With only a 50 milion share float and 4.5 million shares short.
It should be volatile.

HappyTrading
Posted October 29, 2007 at 8:13 am | Permalink (Edit)
STP
going vertical!!

HappyTrading
Posted October 29, 2007 at 8:14 am | Permalink (Edit)
DRYS
risky, but, seems to want to go up!

BillBigD
Posted October 29, 2007 at 8:42 am | Permalink (Edit)
CTRP- ATH
CIEN- ditto

HappyTrading
Posted October 29, 2007 at 8:43 am | Permalink (Edit)
PCLN
also strong, up $4+

Luck -o- the Irish
Posted October 29, 2007 at 8:59 am | Permalink (Edit)
GRMN Nov 125 at 6.60

The above is just a taste of what the members’ board is like. There are so many great ideas/discussions all the time. What I posted here is only a fraction of what goes on, as on any given day, there are 400 to 700+ comments on the members’ board. I think “Mr. Gordo” said it well:
Gordo
Posted October 26, 2007 at 12:20 pm | Permalink (Edit)
I truly love you guys, and I love hanging with you through these weird markets.Trading is usually a solitary game, but having some company (and some GREAT trade spotters) makes every trading day better than it would have been.

Peace,

Again, thank you all for being part of the “happy” family, and many blessings to to everyone!

Well, let’s take a look at how various sectors did:

SOX (semiconductors) finally had a good day, gaining +1.47%. We have to see if it can get above the resistance at 460. GDX (gold miners) and GLD (gold) both went higher, +2.98% and +0.55%, respectively. FXI (Chinese ADRs) added another $5.97, or +2.85%.

SPX

SPX gained +5.7 points to close at 1540.98 (above 1540!). Its MACD is curving up and the 10-day MA is turning. Not bad.

Nasdaq

On the other hand, Nasdaq is looking good! It added +13.25 point to close at 2817.44. Its 10-day MA is curving up and staying above the 20-day MA, keeping the bullish formation intact. What’s more interesting is that the daily upper BB is opening up, hinting for more upwards movements.

After the market, CF reported blowout earnings, beating the estimates by more than 50 cents!! Its shares were trading up almost $10, or by more than +11%!! Many of our members, who followed optiondragon’s trade idea on CF, are going to be very “happy” tomorrow morning. This may also provide POT even more fuel to go higher! POT made a new all-time high today at $123.14. It closed at $121.47, and, it was trading up $1.48 at $122.95 in AH. The “Ag” sector is hot!! SOHU also reported solid earnings and raised its 4Q guidance. Its shares jumped almost $5 to trade at $58.51 in AH. SINA, NTES, and SNDA may all benefit from SOHU’s earnings news!

Good night and HappyTrading! ™

ps. This is the last week for 20% discount on Wang’s Happy Trading Membership, and, the membership fees are going up on Nov 19!