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:
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.
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: 1,135.91 – 1,181.23, 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! ™