Wang’s Happy Trading

from MyHappyTrading.com

Last weekend, in my Market Forecast, I said,
“For the new week, the market seems to be in a very good position to continue higher.  Nasdaq has already formed a new bullish formation and caught up with its daily upper BB.  Nasdaq could test 2450 soon.  SPX is about to catch its daily upper BB and the 10-day MA has risen above the 30-day MA.  Above 1300, the next resistance for SPX is 1340.  Both oil and gold prices dropped off sharply last week, as the dollar jumped to its 6-month high range.  The financials took a big step back last Thursday on AIG’s earnings, but, was able to regain its footings on Friday.  The techs are showing a lot of strength with the biotechs leading the way and semiconductors recovering well.”

Nasdaq closed above 2450 and SPX closed just under 1300.  We indeed saw oil and gold fall fruther, and, techs continued to lead the market.  Financials were weak.  But, the overall market managed to make gains.

We had quite a few nice trades this week.  Besides 1 trade, we were 100% GR$$N on closed trades.  The UAUA trade would have actually been a profitable trade if we had stuck to our guns, as UAUA closed above $14 on Friday.  But, it was good to be careful as oil bounced in the middle of the week:

HappyTrading GENZ ($82.76) Sold to Close GAAIP Sep 80 calls, at $4.60 +64%
HappyTrading GENZ ($82.95) Sold to Close GAAHP Aug 80 calls, at $3.00 +13%
HappyTrading GOOG ($504.50) Sold to Close GOPHO Aug 500 calls, at $7.00 +43%
HappyTrading GOOG ($500.50) Sold to Close GOPHO Aug 500 calls, at $5.00 +9%
HappyTrading RIG ($131.20) Sold to Close RIGIF Sep 130 calls, at $7.20 +6%
HappyTrading UAUA ($12.70) Sold to Close UALHB Aug 10 calls, at $2.75 -26%
HappyTrading CME ($356.50) Sold to Close CMEHG Aug 350 calls, at $11.50 +113%
HappyTrading AMZN ($86.50) Sold to Close ZQNIP Sep 80 calls, at $9.35 +120%
HappyTrading WYNN ($113.00) Sold to Close UWYIB Aug 110 calls, at $9.30 +55%

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