In my Market Forecast for the week, I wrote:
"…the latest development in the charts are certainly not bullish. However, it may not necessarily dictate a breakdown… The market could still be range-bound, and, is very mixed."
This was exactly what we saw this week. The market was strong earlier in the week, but, turned back down on Thursday after the jobless claims report. However, we still saw pockets of strength because of possible M&A activities and/or strong earnings. Agriculture sector has been hot as BHP initiated an unsolicited bid for POT. AGU acquired AWB for more than $1 billion. This leaves investors to speculate who’s next (well, there’s actually not that many more "eligible bachelors" left). INTC bought MFE at a whopping 60% premium, and, the search for the next M&A deal goes on…
We did quite well this week, considering the volatile market environment. Here are the closed trades (Trades with +50% or more gain are highlighted):
August 20, 2010
11:55 | HappyTrading SHLD ($61.55) Sold to Close 09P60 Sep 60 puts, at $2.51 +0%
11:54 | HappyTrading UAUA ($20.55) Sold to Close 09P20 Sep 20 puts, at $1.06 -5%
07:45 | HappyTrading MELI ($68.00) Sold to Close 09P70 Sep 70 puts, at $4.50 +2%
August 19, 2010
12:54 | HappyTrading MELI ($67.80) Sold to Close 09P70 Sep 70 puts, at $4.70 +7%
11:43 | HappyTrading GLD ($120.40) Sold to Close 08 Sep 120 calls, at $2.37 +25%
07:27 | HappyTrading X ($50.30) Sold to Close 09C50 Sep 50 calls, at $3.50 +3%
07:26 | HappyTrading GLD ($120.96) Sold to Close 09C120 Sep 120 calls, at $2.70 +42%
07:05 | HappyTrading MOS ($57.50) Sold to Close 09C55 Sep 55 calls, at $4.55 +40%
06:56 | HappyTrading TSL ($23.65) Sold to Close 09C22.5 Sep 23 calls, at $2.30 +12%
06:39 | HappyTrading AAPL ($253.30) Sold to Close 08C250 Aug 250 calls, at $3.90 -15%
August 18, 2010
12:43 | HappyTrading GLD ($120.25) Sold to Close 09C120 Sep 120 calls, at $2.30 +21%
11:54 | HappyTrading MOS ($58.15) Sold to Close 09C55 Sep 55 calls, at $5.00 +54% (-0.2 from the August calls, the gain would be +48%)
August 17, 2010
12:16 | HappyTrading AMZN ($129.40) Sold to Close 08C125 Aug 125 calls, at $4.75 +44%
11:26 | HappyTrading WYNN ($90.90) Sold to Close 08C90 Aug 90 calls, at $1.90 +76%
10:21 | HappyTrading AMZN ($129.95) Sold to Close 08C125 Aug 125 calls, at $5.30 +61%
10:20 | HappyTrading WYNN ($91.19) Sold to Close 08C90 Aug 90 calls, at $2.10 +94%
08:50 | HappyTrading AMZN ($129.75) Sold to Close 08C125 Aug 125 calls, at $5.10 +55%
08:39 | HappyTrading WYNN ($90.79) Sold to Close 08C90 Aug 90 calls, at $1.95 +81%
August 16, 2010
12:39 | HappyTrading AAPL ($247.10) Sold to Close 08P250 Aug 250 put, at $4.55 +1%
12:00 | HappyTrading BIDU ($83.96) Sold to Close 08C85 Aug 85 calls, at $1.11 -32%
We have had many new members lately and I would like to open the Trading Room to the new members for 2 weeks. For the members that would like to join us in the Trading Room, you can email us by clicking on the "Contact Us" (Click HERE) link. When you fill out the form, please include your login (or username) name. Under the "Subject", please enter "Free Trading Room Access for 2 Weeks". This offer is only valid for new members (non-subscribers) and is available to the first 50 new members that email us.
Enjoy your weekend, and I’ll be back on Sunday with next week’s Market Forecast!
Good night and HappyTrading! ™ 
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