Wang’s Happy Trading

The market was a little volatile today, as we saw some profit-taking in various sectors. But, buyers seemed to be still coming in. This morning, OptionDragon made a great play on AAPL:

optiondragon
Posted February 27, 2008 at 9:15 am | Permalink (Edit)
buying AAPL here with the MAr 125

AAPL ended the day with a $3.81 gain, or +3.2%. After the market, AAPL jumped another $4.34, or +3.53% (more on this later). Great play, OptionDragon!

A little later, I commented on GS:

HappyTrading
Posted February 27, 2008 at 9:28 am | Permalink (Edit)
GS
check out the 15-minute chart; could be stage a little breakout today; needs to be above $180 have a substantial move though.

GS ended the day up $8.1, or +4.69%!

The Dow closed up +9.36 points; SPX was down just 1.27 points; Nasdaq added +8.79 points.

Here’s how the market looked at the close:

The techs were stronger than the broader market today, as the market saw profit-taking among some commodities and related sectors. USO (oil) and UNG (natural gas) both were off, 1.47% and 1.76%, respectively. DBA (agricultural commodities) slid 1.21% as MOO (agriculture) fell 1.53%. XME (metals and mining) was down slightly, 0.55%. But, GLD (gold) and GDX (gold miners) continued to surge, up +1.14% and +2.17%, respectively. I’m introducing a new ETF to my sector watch list, SLV, for silver. Gold has been going up, and, silver as well, among other precious metals. Today, SLV jumped +2.87%! So, we’ll be adding it to our watch. PBW (clean energy) is still weak, losing 1.70%. FXI (Chinese ADRs) are waking up, advancing +3.29%.

SPX

SPX lost 1.27 points to close at 1380.02. It stayed above 1375, which is a good thing. Its 10-day MA and MACD continued to rise.

Nasdaq

Nasdaq gained +8.79 points to closed at 2353.78. It closed above the 2350 resistance. The daily MAs were pinched closer together. The MACD went higher.

The market behaved pretty well today. Even though we saw profit-taking in the energy, metals, and agriculture sectors, new leaders emerged. Techs were stronger today, and the Chinese ADRs rallied. What I didn’t like was that VIX went above $22, closing at $22.69. VIX has started a new bearish formation on its daily chart (chart shown on the member site only). Going back down below $22 again could probably bring VIX to $18, which would be a plus for the market. We’ll be keeping an eye on VIX tomorrow. SPX’s daily chart does show a new bullish formation, as discussed yesterday. But, we’ll need to see it catch its daily upper BB to turn the 30-day MA up.

GOOG received some positive analyst comments and continued to recover. Its shares were up $8.67, or +1.87%, and added another $1.34 in AH trading. BIDU jumped as well, perhaps more for “technical” reasons, gaining $21.05, or +8.85%! After the market, AAPL released news that it is on track to sell 10 million iPhones this year, causing the AH gain mentioned earlier. CTRP reported quarterly profits that more than doubled! Its shares traded more than +6% higher in AH. PCLN had already reported great earnings; but, had cooled off a bit from its earnings run. The news from CTRP could perhaps re-ignite the surge on PCLN. FLS reported earnings that beat the estimates, reaffirmed 2008 guidance, and announced a $300 million share buyback. Investors seemed to love what they heard, driving FLS up almost +9% after the market!

Good night and HappyTrading! ™