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Monthly Archives: June 2010

Late Selling Sends Market Lower! SPX, Nasdaq, OSG, FRO, TK, AAPL, GOOG, CMG, NFLX, SNDK, VMW, MON, DNDN

The market spent most of the day defending the SPX 1040 level.  We saw some bounces in the morning.  But, like I said in my article last night, "…the momentum is on the downside right now, and, bounces may invite more selling."  In the last hour of trading, the selling resumed on heavy volumes, ending [...]

Market Stumbles On Economic Worries: SPX, Nasdaq, APA, EOG, IOC, CLF, WLT, BTU, X, AAPL, GOOG, RIMM, AMZN

Last night, Chinese stock market’s Shanghai SE Composite Index dropped more than 100 points, or more than 4%.  This morning, the US market followed the bearish sentiment, gapping lower.  US consumer confidence index fell 10 points in June, the biggest fall since February.  The selling continued throughout the day and the market pretty much ended [...]

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, USO, XME, OIH, XLF, GLD, USO, XME, OIH, XLF, GS, CME, ICE, BP, GOLD, NEM, ABX

Last weekend, in my Market Forecast, I said: "For the new week, the market looks to be on its way to break higher.  The daily upper BBs have opened up; the 10-day MAs are crossing above the 20-day MAs.  In addition, the 30-day MAs are trying to turn up.  These are all bullish signals.  This weekend, China [...]

6/25/10 Weekly Wrap: V, RIG, GS, WYNN

The market was very volatile, once again!  VIX went briefly above 30 on Thursday.  Monday morning’s gap-up open turned out to be a head-fake for the broader market, as SPX came all the way from 1130 to below 1080.  Gold and oil charged higher on Friday, with gold closing above $1255/ounce!  Here are the closed [...]

How Fast Things Can Turn: SPX, Nasdaq, APA, BP, RIG, DO, CME, ICE, V, MA, RIMM, AAPL, ORCL

Just this Monday, things seemed ready to break out with the Chinese yuan finally loosening its peg to the dollar.  A couple of bad housing reports and a few days later, this market is at the verge of breaking down again!  SPX shot up above 1131 on Monday morning; today, it closed below 1080, at 1073.69.  [...]

Bullish On RIMM? (Huge Volumes On RIMM Calls)

Most Analysts have not exactly been positive on RIMM, especially in recent months, as Apple’s iPhone has been dominating the smartphone market.  RIMM’s shares have fallen from around $75 in March to now $60.  Tomorrow after the market, RIMM will report its earnings.  On the same day, however, AAPL is releasing its iPhone 4.  Investors [...]

Home Sales Sour Market Mood! SPX, Nasdaq, V, MA, APA, UNP, EOG, V, MA, RIG, CMG, NFLX, DECK

Since Monday morning’s surge, on China loosening yuan’s peg to the US dollar, the market had been on the defensive.  This morning’s home sales data, which fell unexpectedly, further gave the market reasons to take some profits off the table.  After all, the market has been rallying up 2 weeks straight without taking much of a [...]

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, USO, XME, OIH, GLD, USO, XME, OIH, SLB, DO, RIG, GOLD, NEM, PAAS, CLF, WLT, BTU, BHP

Last weekend, in my Market Forecast, I wrote: "For the new week, things may be a bit tricky.  First of all, it’s options expiration week, so some "maneuvers" are to be expected.  The market is definitely trying to draw a bottom.  But, after charging higher 2 days in a row, we may see some indecisiveness [...]

6/18/10 Weekly Wrap: Another Week Of Nice Profits! GOOG, GLD, EOG

Although still a bit volatile, but given that it was an expiration week, the market was pretty well behaved.  Besides 1 minor 10% loss, all of our trades were in the GR$$N, including a +157% gain on the GOOG calls: June 18, 2010 10:59 | HappyTrading GLD ($123.00) Sold to Close 06C120 Jul 120 calls, [...]

Markets coiled for a Move

Ringing the register today, 3-3 on call plays BOOKED today: 06:41 | Bagger Vance GOLD ($92.00) Sold to Close GOLD 06192010 85 C Jun 85 calls, at $7.70 +83% 06:37 | Bagger Vance MA ($212.00) Sold to Close MA 06192010 210 C Jun 210 calls, at $3.50 +141% 06:33 | Bagger Vance FSLR ($125.00) Sold [...]