There have been many big movers in the market during these past couple of days. The market pushed higher on Wednesday, as the Euro Summit helped calm nervous investors and better payroll data from US pushed more buyers back in. Facebook's IPO has been a driver for internet stocks. SINA gained more than $5 in the past 2 days. We jumped in on the weekly 70 calls on Wednesday and walked away with a +109% gainer in just 2 hours:
- 09:43 | Ecstatic Plays SINA ($74.30) Sold to Close 0203C70 Feb 70 calls, at $4.50 +109%
- 09:37 | Ecstatic Plays SINA ($73.75) Sold to Close 0203C70 Feb 70 calls, at $4.20 +95%
- 07:22 | Ecstatic Plays SINA ($72.20) Bought to Open 0203C70 Feb 70 calls, at $2.15
ZNGA shares flew up almost +17% on Facebook's IPO news. LNKD gained +6.37%.
Yesterday morning, WHR and MDVN made huge moves up, with WHR delivering a strong quarter and MDVN producing nice results with its prostate cancer drug. WHR shares jumped $10 in the past 2 days, while MDVN vaulted $15! MDVN may be a bit toppy now, but, WHR still has plenty of room to run. WHR could run to $75 before hitting solid resistance. VRTX also popped on news of FDA approval for its cystic fibrosis drug. VRTX is up about +10% in the past few days.
AMZN sank as low as $172 (from $195) as it missed its earnings estimate. It recovered partially to close at nearly $182 today. GMCR jumped almost +24% today after reporting a better-than-expected quarter. We have been sitting on the weekly 55 calls for GMCR since Monday, and, cashed them out this morning at nearly the day high with a profit of +229%:
- 06:44 | HappyTrading GMCR ($66.20) Sold to Close 0203C55 Feb 55 calls, at $11.20 +220%
- 06:42 | HappyTrading GMCR ($66.50) Sold to Close 0203C55 Feb 55 calls, at $11.50 +229%
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After finishing off a very nice January, we are starting February with a couple of strong trades again!
This morning, MA reported a strong quarter and pushed its shares up +6.7%. V rose along, up +3.46%. CME saw its 4Q profit soar and planned to boost dividend. Its shares pop +8.36%. ICE seemed to have benefitted from the news, adding +4.32%.
The Dow was down 11.05 points; SPX added +1.45 points; Nasdaq gained +11.41 points:
BTK (biotech) was up +1.49%. Both GLD (gold) and SLV (silver) pushed higher. XME (metals and mining) added +1.44%. OIH (oil services) bounced +1.47%.
SPX
SPX added +1.45 points to close at 1325.54. Its daily MAs were up slightly, but, the MACD was still flat.
Nasdaq
Nasdaq gained +11.41 points to close at 2859.58. Its daily MAs and MACD went up.
The market has been gliding higher, but, still not quite getting the next leg up. It seems to be a little hesistant ahead of the unemployment rate report tomorrow. We locked in our profits just in time, to sit on mostly cash. Let's wait and see how the market reacts to the jobs report tomorrow morning.
Good night and HappyTrading! ™
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