Wang’s Happy Trading

INX2 (Internet)

INX2 looks very solid. Its chart actually resembles that of the Nasdaq quite a bit. Not too surprising as we’re in the “Internet Era” and “Web 2.0″ is just getting started! GOOG, of course, is one of the leaders, if not “the” leader now in this sector. GOOG closed above $710 at $711.25 on Friday. Its Chinese counterpart, BIDU, has been just amazing, topping $400 on Friday by $9!! In just 2 months, this stock has doubled!!

SWH (software)

After MSFT’s stupendous quarterly report, this sector has been on fire! It is just riding its daily upper BB up! And, it has lots of room to go up more. MSFT, ORCL, and ADBE are the heavyweights in this group. INTU, however, is attracting my attention.

USO/OIH (oil/oil services)

Oil keeps on going higher and oil services seems to be turning around again, after a couple of weeks of breathing time. RIG has been making new all-time highs last week and still looks to go higher. DO and NE has been pretty solid. SLB has come down quite a bit; may be time to keep an eye on it again.

XLF (financials)

XLF kept above $31 last week, but, it is not looking too healthy, as its daily chart is showing a bearish formation with 10- below the 20- below the 30-day MA! But, GS and “MA” have been surprisingly strong, both set new all-time highs last week. GS gave back quite a bit of gains ($20, from $250 to $230) on Thursday and Friday. MA seems to be in a good position to test $200!

GLD/GDX (gold/gold miners)

Interest rate is cut once again, and GLD goes flying!! GDX has been even stronger in the past 3 months (percentage-wise) and has a lot more room to go up! FCX, PCU, and BHP are still among my favorites.

Hope your weekend has been going well, and that you have been relaxing and having a good time! It is certainly nice to gain an extra hour this weekend.

Happy Sunday!
HappyTrading! ™