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Weekly Wrap-Up 8/26/2011: SLV, FAZ, AMZN, AAPL, POT, RIMM, CREE

We had another fantastic week, making good trades on both sides.  The market has been volatile, but, we traded nicely with the up-and-downs.  100% of our closed trades were in the GR$$N:

  • 07:18 | HappyTrading CREE ($28.60) Sold to Close 09P27.5 Sep 28 put, at $1.75 +4%
  • 06:55 | HappyTrading RIMM ($29.23) Sold to Close 0826C28 Aug 28 calls, at $1.45 +75%
  • 06:51 | HappyTrading RIMM ($29.30) Sold to Close 0826C28 Aug 28 calls, at $1.55 +87%
  • 07:56 | HappyTrading POT ($54.50) Sold to Close 09C55 Sep 55 calls, at $2.21 +26%
  • 07:49 | HappyTrading POT ($55.14) Sold to Close 09C55 Sep 55 calls, at $2.46 +41%
  • 06:45 | HappyTrading AAPL ($376.60) Sold to Close 0826C370 Aug 370 calls, at $8.50 +113%
  • 09:56 | HappyTrading AMZN ($187.80) Sold to Close 0826C185 Aug 185 calls, at $5.70 +21%
  • 09:21 | HappyTrading SLV ($41.70) Sold to Close 09C40 Sep 40 calls, at $3.00 +92%
  • 06:42 | HappyTrading FAZ ($72.55) Sold to Close 0826C70 Aug 70 calls, at $6.20 +13%
  • 07:08 | HappyTrading SLV ($42.45) Sold to Close 09C40 Sep 40 calls, at $3.50 +124%

We started out the week with a +124% profit on SLV Sept 40 calls.  The next day SLV started to drop, as silver and gold retreated.  We then did a quick overnight double on AAPL weekly 370 calls, up +113%.  RIMM provided another double with the weekly 28 calls.

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We waited in mostly cash on Thursday to see how the market reacts to Bernanke’s speech on Friday.  It was a volatile day, as the market fell hard in the morning, but, bounced back to green before noon.  SPX had a pretty big range: 1,135.911,181.23, almost 50 points!  The market had some strong actions in the afternoon, but, was still unable to close above 1180.

I’ll be back on Sunday with my weekly Market Forecast to take a closer look at coming week.

Have a great weekend, everyone!

Good night and HappyTrading! ™

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One Comment

  1. Posted September 6, 2011 at 11:35 am | Permalink

    None can doubt the veracity of this aritlce.

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