Wang’s Happy Trading

Another very volatile day, but, the general direction was “down”. The Dow gave back 120.96 points; SPX was down 19.43 points; Nasdaq lost 25.81 points.

Despite the “choppy waves”, we had a fun day in the “happy” land. I started off watching the solar stocks as AMAT seemed to have added fuel to these stocks. Then, we picked up some SPY puts as the market grew weaker. People were playing daytrades on both sides, scalping profits here and there. BIDU was one of the favorites today:
freeflow
Posted November 15, 2007 at 6:05 am | Permalink (Edit)
I bought some XLF puts yesterdy. They are up slightly this morning.

HappyTrading
Posted November 15, 2007 at 6:29 am | Permalink (Edit)
PETM
good earnings, gapping up!

HappyTrading
Posted November 15, 2007 at 6:43 am | Permalink (Edit)
FSLR
Dec 220s, HJQLD, nibbled at $9.7

BillBigD
Posted November 15, 2007 at 6:46 am | Permalink (Edit)
BIDU Puts again

HappyTrading
Posted November 15, 2007 at 6:47 am | Permalink (Edit)
CSIQ
Nov 15s, your kind of play dragon!

2by2
Posted November 15, 2007 at 6:51 am | Permalink (Edit)
NCTY: Anyone playing earnings?

LDK up 9%

BillBigD
Posted November 15, 2007 at 7:02 am | Permalink (Edit)
BIDU PUTS-one and done

HappyTrading
Posted November 15, 2007 at 7:12 am | Permalink (Edit)
PETM
Dec 25 calls, QPTLE, bought at $2.3

HappyTrading
Posted November 15, 2007 at 7:15 am | Permalink (Edit)
CSIQ
screaming!! nice trade from this morning!!

wiiboxer
Posted November 15, 2007 at 7:23 am | Permalink (Edit)
nice pick Happy on fslr! didn’t get in on time from the alert but good call.

Bill P
Posted November 15, 2007 at 7:25 am | Permalink (Edit)
Bill Big - I’ll probably play it both ways at some time today. LOL

Playing ISRG again.

HappyTrading
Posted November 15, 2007 at 8:06 am | Permalink (Edit)
GME
nice jump!

HappyTrading
Posted November 15, 2007 at 8:40 am | Permalink (Edit)
ESRX
having a little breakout today.

Makemoney
Posted November 15, 2007 at 8:46 am | Permalink (Edit)
Shorting RIMM on any bounce. RIMM is weak.

BillBigD
Posted November 15, 2007 at 8:56 am | Permalink (Edit)
BIDU Puts- 1/2 out.
APPL- only thing holding QQQQ’s

HappyTrading
Posted November 15, 2007 at 9:24 am | Permalink (Edit)
market
be careful here.

Makemoney
Posted November 15, 2007 at 9:38 am | Permalink (Edit)
RIMM, what a nice short today $$$$

BillBigD
Posted November 15, 2007 at 9:42 am | Permalink (Edit)
RIMM-below $100 might have to buy. LOL
Bidu Puts-All out 100%
Bill P-nice playing

HappyTrading
Posted November 15, 2007 at 9:45 am | Permalink (Edit)
SPY
Dec 146 puts, SFBXP, bought at $4.49

HappyTrading
Posted November 15, 2007 at 10:43 am | Permalink (Edit)
LDK
starting to fly!

HappyTrading
Posted November 15, 2007 at 12:05 pm | Permalink (Edit)
SPY
SFBXP, took some profits at $5

HappyTrading
Posted November 15, 2007 at 12:13 pm | Permalink (Edit)
SPY
SFBXP, rest out at $5.15

HappyTrading
Posted November 15, 2007 at 12:20 pm | Permalink (Edit)
BIDU
scalping Nov 320s (risky)

StandUp Comic Bob
Posted November 15, 2007 at 12:26 pm | Permalink (Edit)
Thanks for SPY Happy, & Dragon…awesome call on that blowot bottom! That helped alot!

kwan
Posted November 15, 2007 at 12:33 pm | Permalink (Edit)
happy thanks for spy - i got out a few minutes before you did

Nance
Posted November 15, 2007 at 12:43 pm | Permalink (Edit)
Happy, how did you know to buy SPY puts right before the recent sell off started? What did you see on the chart? Please explain. I don’t always catch your trades in time and would like to know what you look for on the chart. And why did you buy SPY puts this time, when last time you bought VIX as hedge?

HappyTrading
Posted November 15, 2007 at 12:46 pm | Permalink (Edit)
BIDU
ok, that was fun! I think I’ll rest now.

HappyTrading
Posted November 15, 2007 at 12:50 pm | Permalink (Edit)
SPY
things were moving fast; so, SPY puts can maximize the gain. I got Dec. so was safe. GOOG was being pressured, and the whole market was feeling weak. Nice insurance and made money on the way to make holding solar calls more comfortable.

marketquest
Posted November 15, 2007 at 1:03 pm | Permalink (Edit)
Have a great evening everyone, Thanks

StandUp Comic Bob
Posted November 15, 2007 at 1:05 pm | Permalink (Edit)
Thanks for all profits taken…and all to come.

Indeed, “Thanks for all profits taken…and all to come.” Lots of quick actions today and lots of fun! Thanks for all the ble$$ing$!

Let’s take a look at how the market closed:

VIX jumped +8.17% (still have some of those Dec calls!!). BTK (biotechs) was able to add +1.09 points. Rest of the market was bleeding. INX2 (Internet), SOX (semiconductors), SWH (software) were on the weak side. Commodities and related sectors pretty much gave back all they gained yesterday: GLD (gold) -2.9%; GDX (gold miners) -4.64%; XME (metals and mining) -3.55%; USO (oil) -0.41%; OIH (oil services) -3.04%. XLF (financials) lost 2.54%. FXI (Chinese ADRs) was down 3.34%.

SPX

SPX gave up 19.43 points to close at 1451.15. As I mentioned yesterday, the daily MAs are still in their bearish formation, and thus, it is prudent to be cautious. The support at 1440 is in sight again. Let’s see how the market deals with it tomorrow.

Nasdaq

Nasdaq closed at 2618.51 (below the 2625 support), down 25.81 points. If it doesn’t bounce above 2625 tomorrow, the next nearest support is at 2550.

This morning, STP reported strong earnings and saw its shares jump as high as $68.34 from yesterday’s close of $61.69! Its shares later retreated to close at $64.37, up +4.34%! LDK gave a positive outlook to its business. Its shares flew up almost +18% today! SBUX reported a +35% rise in its 4Q profit, but, its U.S. traffic dropped. Its shares traded off 7.8% in AH trading. Looks like the holiday shopping season is near, as GME shares gained a healthy +3.82% in a bearish environment. TEL reported a 4Q profit that exceeded expectations. Its shares were up +4.23% in AH.

Good night and HappyTrading! ™

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