On Tuesday, I wrote that we might see the market take a breather. Friday’s jobs report gave the market that "excuse". The market ran up fast this week and came down fast. We logged in some nice winners early and cut our small losses late in the week. The +181% trade on NFLX on Thursday was a nice addition to the AAPL and GOOG trades earlier, although we cashed out those trades too early. Here are the closed trades for the week:
Friday’s quick pullback may present new buying opportunities. Earnings season will kick in starting next week. We’ll have to see if the latest quarterly reports can support this rally. Software stocks got hammered on Friday after INFA warned its 2nd quarter results would miss expectations. We’ll take a closer look at the sector, plus more, tomorrow in my weekly Market Forecast/Sector Watch.
Happy weekend and HappyTrading! ™