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Biotechs Push Higher: SPX, Nasdaq, CELG, ONXX, ALXN, CF, HLF, AAPL, MA, V, PSMT, WFC

The market has been trading flat since last week’s big 2-day rally after the "fiscal cliff" was resolved.  Nevertheless, investors are still finding plenty of stocks to buy.  Biotechs have been pushing higher and higher.  CELG is at an all-time high, trading above $92, after its CEO’s bullish guidance.  ONXX gained another +3.29% today; ALXN added +2.89%; REGN popped +3.83%.

We did some quick trades today and took some nice intraday profits, including a +56% win on CF:

  • 12:32 | Ecstatic Plays HLF ($39.90) Sold to Close 01C40 Jan 40 calls, at $2.60 +30%
  • 11:12 | HappyTrading CF ($215.00) Sold to Close 01C210 Jan 210 calls, at $6.40 +56%
  • 10:58 | HappyTrading SHLD ($41.00) Sold to Close 01P40.42 Jan 40 put, at $1.09 -31%
  • 10:54 | HappyTrading CF ($214.80) Sold to Close 01C210 Jan 210 calls, at $6.30 +54%
  • 08:21 | HappyTrading CF ($213.60) Sold to Close 01C210 Jan 210 calls, at $5.40 +32%

(to subscribe to our trade alerts, please visit our Services Page or CLICK HERE to watch a step-by-step instructional video)

Going against the market was AAPL, which closed down more than $8.  There has been a lot of news around HLF lately and the stock has been really volatile.  Since Ackman came out to question the validity of Herbal Life’s business model, calling it a pyramid scheme, HLF fell from $45 to $25.  However, today, Loeb came out to challenge that view and gave a target of $55 to $68 per share!  HLF will hold an investors’ meeting tomorrow.  We could see another big movement day for HLF!  HLF has climbed back to about $40.

After the market, PSMT reported a strong quarter, sending its shares up +6.2%.

The Dow was up +61.66 points; SPX added +3.87 points; Nasdaq gained +14 points:

SOXX (semiconductors) was up +1.05%.  BTK (biotechs) gained +0.9%.  IGV (software) added +1.04%.  MOO (agriculture) climbed +0.98%.


SPX added +3.87 points to close at 1461.02.  The daily MAs were slightly up, while the MACD stayed flat.


Nasdaq gained +14 points to close at 3105.81.  Its daily MAs and MACD were higher.

It seems like the market is waiting for WFC’s earnings report on Friday.  Meanwhile, MA and V continue to make new highs.  MA recorded a new all-time high at $532.39, up another +14.57.  V scored its own all-time high at $162.55 and closed at $161.79, up +1.52%.  So far, the market has been able to hold its multi-year high level.  We’ll have to see how WFC reports on Friday.

Good night and HappyTrading! ™

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