Wang’s Happy Trading

Very nice actions today! The market woke up, especially the techs! We have positioned ourselves well since earlier this week, and, were able to profit from the jump today!

The Dow was up +38.37 points; SPX gained +7.12 points; and Nasdaq jumped +39.85 points!

Let’s see how the market looked at the close:

The techs were very strong: INX2 (Internet) +1.82%, SOX (semiconductors) +1.35%, BTK (biotechs) +1.06%, and SWH (software) +1.80%. Commodities and related sectors were mixed. USO (oil), UNG (natural gas), GLD (gold), and GDX (gold miners) were weak, while OIH (oil services) and XME (metals and mining) made solid gains. XLF (financials) was slightly red and HGX (housing) was slightly green. FXI (Chinese ADRs) added $2.21. PBW (clean energy) gained +1.06%. I added a new ETF today to track the agriculture sector. Its got a funny name, “MOO“, and, it demonstrated some bovine characteristics today by moving up +4.41%!

SPX

SPX gained +7.12 points to close at 1460.12. It pushed on the 30-day MA a little more today and the 30-day MA is starting to flatten. It’ll need some stronger moves up to get above the 30-day MA.

Nasdaq

Nasdaq jumped almost +40 points to close at 2640.86. It closed above its 20- and 30-day MAs, with the 30-day MA starting to turn up! This picture is starting to look a little healthier! On Tuesday, I said, “Nasdaq can be explosive and its daily MAs are all pretty close together, within 50 points. Clearing above the daily MAs would make this picture more bullish.” Nasdaq’s MAs have bunched up even closer since then. Let’s see if Nasdaq can continue the upwards momentum tomorrow and close above its daily MAs.

LEAP continued to charge up today, still without any apparent news. It traded as high as $50, but, closed at $47.56, up $5.52, or +13.13%. We took some nice profits on LEAP today (see “Actions“). FTC approved GOOG’s pending qcuisition of DoubleClick today. GOOG shares added $12.32, or +1.82%, during the regular session and traded up another $4.46 in AH. The agriculture sector was on fire today! There are lots of interesting plays to keep our eyes on: POT +8.95%, AGU +6.8%, MOS +10.21%, TRA +7.84%, CF +10.24%, TNH +9.26%, MON +5.25%! After the market, RIMM reported 3Q earnings that more than doubled!! Its shares jumped $12, or +11.22%, in AH trading, on top of today regular session’s +4.76% gain!

Good night and HappyTrading! ™