Wang’s Happy Trading

This morning, the CPI data came out.  It was higher than expected!  The market opened lower, but, quickly turned around and went into the positive territory.  Dollar went higher and oil dropped again.  Commodity-related sectors gave back some gains from yesterday.  Gold took a tumble and closed at a new year low.  It is trading below $800/ounce overnight.  Techs went higher and some Chinese ADRs saw buyers coming back in.

CEO has been strong these past 2 days.  It had fallen from above $200 to $130 in 3 months, and jumped back to close above $140.  BIDU has been quite weak recently, which traded above $350 after a stellar earnings report.  It bounced from nearly $300 to today’s close at $324.86, up +2.94%.  SNDA traded up almost +4% today to close at $26.16, which I find interesting as it held the support at $25.  TSL is reporting next Monday on 8/18 added +3.93% today.  CTRP saw its shares jump over +23% as it beat the estimates on its earnings.  CTRP could go to $60 before seeing a resistance.

The financials fare a little better today: FNM +7.72%; FRE +7.03%; WM +5.83%; BAC +4.57%.  V added +2.5% today and looks like it could go higher.  V has not really moved after a great quarterly report.  Biotechs were strong again.  ILMN garnered more than +3%.  GENZ recorded a new all-time high at $83.31, gaining +3.47% for the day.  We closed our trades on GENZ:
10:15 | HappyTrading GENZ ($82.95) Sold to Close GAAHP Aug 80 calls, at $3.00 +13%
10:30 | HappyTrading GENZ ($82.76) Sold to Close GAAIP Sep 80 calls, at $4.6 +64%

The August calls ended at $3.2 and the Sept calls traded up to $4.9.  Pretty good gains though.  Looks like GENZ could get another spike tomorrow morning before taking a breather.

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