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Monthly Archives: August 2009

Danger Zone: SPX, Nasdaq, MVL, DWA, SVA, GS, WFC, JPM

The US stock market opened down today, following the overnight weakness in Asia.  Commodity sectors were very weak.  Crude went below $70/barrel and gold dropped to $945/ounce before bouncing back to $950.  SPX tested 1015 and Nasdaq tested 2000 (as discussed in my Market Forecast last night).  The market did get a small bounce just before [...]

Market Forecast + Sector Watch: SPX, Nasdaq, XLF, XME, XLE, SOXX

Last weekend, in my Market Forecast, I wrote: "For the new week, with SPX already at its daily upper BB, the market looks to be ready to push higher.  But, since we’ve had 3 consecutive strong days already, Monday may be a bit choppy, as the market may need to let off some steam; and, there [...]

August Wrap! PNC, FSLR, GOOG, HIG, WYNN, AIG

In August, we extended our monthly winning streak to number "8".  Yes, another winning month!  Here are the closed trades.  Notable ones are in "bold" print for over +50% gain.  Besides a few minor losses, our published trades were mostly in the GR$$N.  These trades were all published at real-time (you can check our Records Page [...]

Love Smitten With AIG

It was only a year ago that AIG started its historic slide into the abyss.  I started writing on this site just before that time, and nailed some of this move down, along with LEH.  Today, there is no more LEH but AIG is certainly providing some excitement.  Owned mostly by the government, the recently [...]

Thursday Wrap-Up: AIG Leads The Market Back To Green!

Today the market opened on the weak side.  Most commodity sectors were pretty weak in the morning.  However, AIG continued to push higher.  Yesterday, in our Trading Room, Bagger Vance made an "buy" alert on AIG: Bagger Vance August 26, 2009 11:52 AM (PST) I’M GETTING AN AIG CALL PLAY ALERT HERE…take a look, if it’s [...]

Tuesday Wrap-Up: Biotechs Are Hot!!

Yesterday, the market jumped in the morning, then, retreated in the afternoon.  Today, it was a similar scenario, although the markets did manage to keep some gains.  We continued to lock in profits.  Yesterday we took profits on HIG and APA: August 24, 2009 07:26 | HappyTrading APA ($89.65) Sold to Close APAIR Sep 90 [...]

Market Forecast + Sector Watch: SPX, Nasdaq, XLF, XME, XLE, INX2

Last weekend, in my Market Forecast, I wrote: "For the new week, after trying hard, but unsuccessfully, to break away from the recent resistance levels (SPX 1000; Nasdaq 2000), the market technicals are showing slight weakness.  The MACD on both SPX and Nasdaq have turned lower.  Nasdaq closed below its 10-day MA.  SPX closed right at [...]

Friday Wrap-Up

We didn’t trade much last week; so here are the closed trades for the past 2 weeks: August 21, 2009 11:11 | HappyTrading APA ($88.30) Sold to Close APAIR Sep 90 calls, at $2.45 +17% 07:39 | HappyTrading HIG ($20.97) Sold to Close HIGIW Sep 18 calls, at $4.00 +43% August 20, 2009 12:21 | [...]

Bizarre Mismatch Between UNG and GAZ

There may be new CFTC rules in the works.  These rules would limit how much of a stock could be owned, if that stock was directly based on an energy commodity. One obvious possibility is that some ETFs could simply shut down.  But at least one, UNG, seems to be trying to dodge the sting [...]

Expiration Manuevers: GOOG, AIG 1000% Profits In One Day!

This morning, Goldman Sachs added GOOG to its "Conviction Buy" list, sending GOOG shares soaring above $460, or +3.7%, from yesterday’s close of $443.97!  Well, "Happy Birthday, Google!" (Yesterday marks the 5-year anniversary since Google, Inc. went public.)  In after-hours trading yesterday, GOOG shares already charged higher to $448 on no apparent news.  Today, GOOG shares [...]