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Monthly Archives: May 2010

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, OIH, XME, SOXX, WLT, CLF, GOLD, BP, RIG, DO, SLB, HAL, BHI

First of all, happy Memorial Day! Last weekend, in my Market Forecast, I said: "For the new week, we’ll have to see how much momentum the bounce on Friday has to carry through.  SPX 1110, 1120, and its 10-day MA should provide resistances.  The daily MAs of SPX and Nasdaq are well into their new [...]

Monthly Wrap May 2010: EOG, GS, GLD, NFLX, PCLN, SHLD

Well, it’s been a very volatile week and we traded lightly.  But, for the month of May, we made some really nice trades.  Here are the closed trades for May (profits above +50% are highlighted).  Notable trades are NFLX, PCLN, and SHLD puts with triple-digit gains: May 28, 2010 11:00 | HappyTrading CTRP ($39.40) Sold [...]

Big Upswing Brings Nasdaq Green For 2010! SPX, Nasdaq, SNDK, BRCM, FFIV, GOOG, BIDU, AMZN, RIMM, AAPL, CLF, WLT, BTU, ACI, APOL, ESI, TLT

The market jumped out of the gate today on China’s show of confidence in European debt even though the lastest jobs report may not have been inspiring.  Investors rushed back in to pick up tech stocks, sending Nasdaq roaring up +81.8 points and into the green for 2010.  GOOG added $15 to close above $490.  [...]

Dow Closes Below 10,000! SPX, Nasdaq, GOOG, BIDU, AMZN, AAPL, GS, X, SHLD, APOL, ESI

It was another volatile day on the market, to say the least.  The market seemed fairly strong in the morning, with SPX testing the 1090 level.  Tech leaders GOOG, BIDU, AMZN, and AAPL were all in the green.  GOOG was up almost $13 at one point, and AAPL went above $252 intraday!  But, once again [...]

Market Bounces Back From 6-Month Low! GS, DO, RIG, BP, SLB, CLF, BTU, MEE, GOLD, NEM, ABX

The market gapped lower this morning and touched a new 6-month low.  The Dow briefly slumped below 9,800, while SPX almost touched 1040.  But, the market staged an impressive rally to close just about flat.  GS led the financials with a +4.29% gain, closing above the $140 level. The beaten-down commodity sectors led the bounce.  [...]

Weekly Wrap + Market Forecast + Sector Watch: SPX, Nasdaq, XLF, GLD, XME, SOXX, GS, WLT, CLF, BTU, ACI, PCX, BRCM

Last weekend, in my Market Forecast, I wrote: "For the new week, the market is in a very vulnerable position.  The bounce last week took to the market to test the 10-day MA.  But, with a quick reversal, it closed under the 10-day MA again.  Further, both SPX and Nasdaq are showing newly developed bearish [...]

Making Money In A Down Market! SPX, Nasdaq, GS, PRU, JPM, WFC, SHLD, NFLX, DECK, EOG, WYNN, LVS, MGM

In my Market Forecast for this week, I mentioned, "SPX 1120 could provide some initial support, but, below SPX 1120, the market could test SPX 1080."  On Tuesday, in our Trading Room , I said, May 18, 2010 12:13 PM VIX should at least test 40 on this run… From Monday through Wednesday, SPX tested 1120.  [...]

Market Ends Down In Volatile Trading: SPX, Nasdaq, SHLD, MA, V, GS, CME, ISRG, FSLR, WLT, NFLX, CMG, CSTR

The market was weak from the open and sank quickly lower into the morning trading.  We cashed in the rest of our trade on SHLD for profits as big as +347%, in just 2 days: May 19, 2010 07:21 | HappyTrading SHLD ($98.80) Sold to Close 05P105 May 105 put, at $7.10 +347% 07:10 | [...]

Market Slumps With Falling Euro! SPX, Nasdaq, CME, ICE, GS, MA, V, WFC, JPM, SHLD, WYNN, LVS, MGM

The market opened higher this morning, but, immediately started to slide.  Euro was also higher this morning, and it too, slipped from the open.  As the Euro went lower and lower, so did the market.  If you have been reading my articles, you would know that I have been more and more bearish about the [...]

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, OIH, XLE, XLF, BTK, GOLD, ABX, NEM, APA, OXY, HES, MA, V, AXP

Last weekend, in my Market Forecast, I said: "For the new week, the momentum has completely shifted to the downside.  We can see that the daily MAs in both SPX and Nasdaq are curving down.  On Monday, we may see an attempt to bounce; others may call it a relief rally.  First resistances will be SPX 1130 [...]