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Markets at New All-time Highs! Weekly Wrap-Up May 5, 2013: AAPL, GOOG, FB, APC, FDX, SAP, RAX, WDC, STX

Wow, the markets had a big day on Friday! SPX popped above 1600, for the first time ever, and almost hit 1620 intraday, and closed at 1614.42. The Dow tested 15,000, but, couldn’t hold and closed just below. Nasdaq had a strong breakout, testing 3380. More money seems to be funneling into the markets. Earnings overall have been beating the estimates.

We started out this week with a +118% profit on AAPL calls. Wednesday’s quick drop prompted us to raise some cash. But, dip-buyers came in right away on Thursday. Our GOOG calls worked well and gave up another good trade with +62%. FB earnings response was muted, but, our in-the-money trade still did well. Here are the closed trades for the week:

  • 07:08 | Ecstatic Plays GOOG ($841.00) Sold to Close 0510C830 May 830 calls, at $15.50 +55%
  • 07:01 | HappyTrading APC ($86.40) Sold to Close 05C85 May 85 calls, at $3.00 +20%
  • 06:46 | Ecstatic Plays GOOG ($842.50) Sold to Close 0510C830 May 830 calls, at $16.17 +62%
  • 12:47 | HappyTrading FB ($29.00) Sold to Close 05C27 May 27 calls, at $2.08 +54%
  • 08:42 | Ecstatic Plays GOOG ($822.00) Sold to Close 0503C825 May 825 calls, at $3.70 -42%
  • 08:02 | HappyTrading GS ($143.20) Sold to Close 05C145 May 145 calls, at $1.90 -42%
  • 12:28 | Ecstatic Plays FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +23%
  • 12:26 | HappyTrading FB ($27.80) Sold to Close 05C27 May 27 calls, at $1.73 +28%
  • 07:39 | Ecstatic Plays AAPL ($428.00) Sold to Close 0503C415 May 415 calls, at $14.40 +118%
  • 07:27 | Ecstatic Plays AAPL ($426.80) Sold to Close 0503C415 May 415 calls, at $13.40 +103%
  • 07:12 | Ecstatic Plays AAPL ($242.50) Sold to Close 0503C415 May 415 calls, at $11.45 +73%

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A lot of names that took big drops last month are starting to turn around. For instance, FDX, SAP, and RAX are all turning bullish. Data storage stocks are drawing buyers again. Both WDC and STX had a big week last week. We’ll take a closer look at some of the lagging sectors this evening. Now that the major market indices are at new all-time highs, are retail investors going to come back into the game? Dip-buyers have been buying on every dip. On Wednesday, I said, "Every time the market pulled back, big buyer came in and drove the market even higher!" I also commented, "This market is so strong, we might not see much of a pullback." If you’re still on the sidelines, it’s time to join the party!

Stay tuned… I’ll be back later on this evening with next week’s Market Forecast!

HappyTrading! ™

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