It was a volatile week. But, in the end, the market closed on a weak note. We were very cautious about chasing longs after Monday’s big jump. We did catch some good trades on gold/gold miners. Then, we waited to play puts, which produced a nice +111% profit in PCLN. Here are the closed trades [...]
Monthly Archives: May 2010
Market Stalls After 3-Day Rally: SPX, Nasdaq, NFLX, BIDU, BG, POT, CF, MOS, KSS, SHLD, JWN
May 13, 2010 – 4:35 pm
The market certain had an impressive 3-day rally. Since Monday’s big jump (Dow +405 points) on Europe’s rescue package, the market continued to push higher. We saw many of the recent market leaders make new highs. For example, NFLX traded as high as $119.5 on rumors of being a buyout target for AMZN. Just last [...]
Strong (Surprising) Move Into Resistance
May 12, 2010 – 4:34 pm
Nailed a couple of nice overnight baggers! May 12, 2010 07:05 | Bagger Vance V ($87.20) Sold to Close V 052210 85 C May 85 calls, at $3.40 +70% 06:58 | Bagger Vance MA ($232.00) Sold to Close MA 052210 230 C May 230 calls, at $6.80 +100% Interesting couple of days. If you went [...]
Gold Soars To New High! SPX, Nasdaq, GOLD, NEM, ABX, GG, RGLD, BIDU, AAPL, DIS, ERTS, CTRP
May 11, 2010 – 6:02 pm
Gold jumped out of the gate today and did not look back, closing above $1230/ounce. In the morning, in our Trading Room, I commented: May 11, 2010 7:14 AM gold plays breaking out! May 11, 2010 8:11 AM GOLD could see $90+!! We did get in on GOLD May 85 calls and cashed out for [...]
Markets Jump On Europe’s $1 Trillion Rescue! SPX, Nasdaq, BIDU, GOOG, AAPL, AMZN, SNDK, FFIV, PCLN
May 10, 2010 – 7:21 pm
Global markets enjoyed a day of big bounces! After last week’s global slump, markets jumped today encouraged by Europe $1 trillion rescue package. For the US stock market, by the end of the first 30 minutes, most leader stocks were up by more than +5%!! Techs were especially strong with Nasdaq gaining more than +109 [...]
Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XME, OIH, XLF, INX2, GS, AIG, RIG, BP, GOOG, AMZN, PCLN, NFLX, CME, ICE
May 9, 2010 – 8:10 pm
Last weekend, in my Market Forecast, I wrote: "For the new week, how the market does on Monday will be very important. On Sunday, Euro partners agreed to a $145 billion bailout plan for Greece. We’ll have to see how the market reacts to that piece of news. But, there are potentially more negative news [...]
Weekly Wrap 5/7/10: NFLX, MA, GS, EOG, GLD
May 8, 2010 – 6:10 pm
While the market slumped this week, we had a week full of profits. We have been bearish on the market for the past 2 weeks and have been long on gold plays. This "long gold, short the market" trading theme paid off for us this week. In the beginning of the week, we closed off [...]
Big Profits In A Wild Day! SPX, Nasdaq, GLD, NFLX, EOG, MA, GS, BIDU, PCLN, ISRG
May 6, 2010 – 3:27 pm
What a wild day on the market! The Dow dropped 700 points in a matter of 15 minutes before coming back 600 points from the day’s low to close. Take a look at this chart: This is an intraday chart on the Dow for today. At about 2:30pm ET, the Dow was at around 10630. [...]
Markets Spooked By Europe! SPX, Nasdaq, GOOG, BIDU, AAPL, AMZN, WLT, CLF, ANR, BTU, MA, OSTK
May 4, 2010 – 7:14 pm
In my Market Forecast this weekend, I said, "…upside moves could be limited…. If the 30-day MA is broken, SPX could easily come down to test 1170." SPX indeed tested 1170 today and closed just above. Yesterday, we saw the market bounced higher on better economic numbers. Today, the market slumped much lower on renewed [...]
Better Economic Data Inspire The Market Again! SPX, Nasdaq, MLM, VMC, SPG, CBL, MAC, OSG, TK, FRO
May 3, 2010 – 7:33 pm
This morning, a strong manufacturing activity report brought the buyers back into the market. In addition, the latest bailout package for Greece also calmed investors’ nerves, at least for the day. Housing and building sectors were very strong today. MLM and VMC kept pushing higher, adding +4.1% and +2.81%, respectively. The REITs, SPG, CBL, and [...]
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
