Wang’s Happy Trading

The market was basically flat today as some profit-taking gave things a chance to let off some steam. But, certain sectors were showing very strong performances. Metals, energy, and agricultures all showed a lot of strength. MON boosted its 2008 guidance and saw its shares jump nearly +10%. Other stocks in the “MOO” sector, also participated. CF, in particular, took a $7 leap!

The Dow closed down slightly, by 16 points; SPX added +3.11 points and Nasdaq gained +14.3 points.

Here’s how the market looked at the close:

Metals were very strong today: GLD (gold) +2.92%, SLV (silver) +5.89%, XAU (gold/silver index) +4.84%, XME (metals and mining) +2.56%, GDX (gold miners) +4.41%. USO (oil) gained +1.51%, while OIH (oil services) advanced +2.43%. MOO (agriculture) gained almost +2%. FXI (Chinese ADRs) garnered nearly +5%.

SPX

SPX added +3.11 points to close at 1352.99. Its 10-day MA went up, as did its MACD. Its daily upper BB is at about 1385.

Nasdaq

Nasdaq gained +14.30 points to close at 2341.05. Its 10-day MA and MACD continued to rise. The daily upper BB is at about 2368.

We continued to see some venting on the market. But, the good thing was that while some leaders were breathing, others took their turns to move up! This is encouraging. The market is getting closer to its daily upper BB. Another solid jump should do it!

Steel companies seem to be catching favorable attention lately. X broke out above $120 today and went as high as $126.39. I caught a piece of the action with this trade:

That’s a nice $2.5 for a +21.7% intraday gain! X has just broken out and could be riding its daily upper BB up higher from here. It is basically in the all-time high area, so there should not be too much resistance. STLD is also looking nice and could be looking to break out. STLD has a 2-for-1 split on 3/31. MA charged up today again and traded as high as $230! It closed at $224.98 and is still looking strong; also in the all-time high zone. FSLR and SPWR, both mentioned yesterday, performed well today again, as the rest of solars woke up. SOLF, in particular, flew up +20.82%! We also caught some actions here with this published trade on the member site:
HappyTrading
Posted March 25, 2008 at 7:16 am | Permalink (Edit)
good morning!

FSLR
looking more and more interesting

HappyTrading
Posted March 25, 2008 at 7:25 am | Permalink (Edit)
FSLR ($213.5)
HJQDD, Apr 220 calls, nibbled at $13.4

HappyTrading
Posted March 25, 2008 at 10:24 am | Permalink (Edit)
FSLR ($220.4)
HJQDD, Apr 220 calls, out at $17

These options traded as high as $19.4, but, closed at $16.8, just below our exit. This was a good quick $3.6 gain for an intraday quick profit of +26.8%.

Good night and HappyTrading! ™