Wang’s Happy Trading

This was a nice way to come back from Christmas! Hope you’ve all had some wonderful time to share with friends and family. Santa definitely delivered some nice gifts! We cashed out some very profittable trades, especially on GOOG and BIDU:
GOOG Jan 720 calls, GOQAD, at $15, +100% (more out)
BIDU Jan 400 calls, BPJAT, at $18, +26.3% (partially out)
SNP Jan 150 calls, SNPAJ, at $10.3, +28.8% (partially out)
POT Jan 130 calls, PYPAF, at $13.9, +51% (all out)
BIDU Jan 400 calls, BPJAT, at $20, +40.3% (more out)
POT Jan 135 calls, PYPAG, at $12.2, +15.1% (partially out)
BIDU Jan 400 calls, BPJAT, at $23, +61.4% (more out)

The market opened weak, but, finished strong. The Dow was up just +2.36; SPX added +1.21 points; Nasdaq gained +10.91 points.

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

INX2 (Internet), SOX (semiconductors), BTK (biotechs), and SWH (software) were slightly green. PBW (clean energy) jumped +2.21%. GLD (gold), GDX (gold miners), and and XME (metals and mining) were solid, gaining +1.72%, +3.05% and +2.43%, respectively. USO (oil) and OIH (oil service) each added more than +2%. HGX (housing) and XLF (financials) were slightly on the red side. FXI (Chinese ADRs) lost just 0.51%.

SPX

SPX added +1.21 points to close at 1497.66. It came close to the 1500 level. Its daily MAs are all curving up and the MACD is rising.

Nasdaq

Nasdaq gained +10.91 points to close at 2724.41. It tested the 2725 level, but, couldn’t close above it. Its daily MAs are curving up and the MACD is rising.

This weekend, I said, in my Market Forecast, “For the new week, the market is in a good position to go higher. There might be some volatility early in the week as some of the options expiration manuevers linger on. The market may need to vent a little. If the market manages to let off some steam without losing much altitude (staying above the daily MAs is the key), the market could set itself up to catch the daily upper BB. Having the 30-day MA completely turned up would also a bullish sign.”

Well, the market opened on the weak side and let off some steam. But, it was able to close in the green (i.e. without losing altitude). The 30-day MA has turned up. These are all healthy signs. We’ll see if the market can continue up to catch the daily upper BB.

Today, MELI jumped +20.61%, or $12.45, with no apparent news. It set an new all-time high at $72.96. DO has been just incredible lately. It set another new all-time high at $149.3 today, gaining almost $20 points, from under $130/share, in just 4 trading sessions! OXPS had a small breakout today and set a new all-time high at $34.65. It closed at $33.90, up just $0.59, or +1.77%. BIDU was very strong today, flying up more than $19, or +5.02%.

Good night and HappyTrading! ™