Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XRT, XLE, BTK, BLK, GS, WFC, BAC, JPM, APA, NOV, HES, EOG, APC, OXY, BIIB, GILD, CELG, VRTX, BMRN, ILMN, AMZN, AAPL, OSTK, EBAY

Once again, markets made new highs last week. Things faltered a bit on Monday, but, buying continued on Tuesday. Wednesday saw a quick pullback in the morning, but, things leveled out in the afternoon and glided higher on Thursday. Friday brought a big jump as China's rate cut inspired the bulls.

We had another mixed week. But, we are still trading very small, holding mostly cash. Here are the closed trades for the week:

GLD Options Sell to close 10.00 (1.42%) of GLD Dec 20 2014 Call 114.0 at 2.92000 -14.12% ($-480.00) Loss
GILD Options Sell to close 5.00 (0.61%) of GILD Nov 28 2014 Put 102.0 at 2.50000 15.74% ($170.00) Profit
GILD Options Sell to close 5.00 (0.59%) of GILD Nov 28 2014 Put 102.0 at 2.41000 11.57% ($125.00) Profit
APA Options Sell to close 10.00 (2.06%) of APA Dec 20 2014 Call 72.5 at 4.30000 45.76% ($1,350.00) Profit
AMZN Options Sell to close 5.00 (1.65%) of AMZN Nov 28 2014 Call 330.0 at 6.75000 22.73% ($625.00) Profit
FAS Options Sell to close 10.00 (0.74%) of FAS Nov 22 2014 Put 117.0 at 1.50000 -11.76% ($-200.00) Loss
SLB Options Sell to close 10.00 (0.45%) of SLB Nov 22 2014 Call 95.0 at 0.90000 -64.57% ($-1,640.00) Loss
TSLA Options Sell to close 5.00 (0.33%) of TSLA Nov 28 2014 Call 260.0 at 1.34000 -72.65% ($-1,780.00) Loss
AMGN Options Sell to close 10.00 (0.25%) of AMGN Nov 22 2014 Put 157.5 at 0.50000 -78.26% ($-1,800.00) Loss
BIDU Options Sell to close 10.00 (2.02%) of BIDU Nov 22 2014 Put 245.0 at 4.20000 -27.59% ($-1,600.00) Loss
AMZN Options Sell to close 5.00 (0.51%) of AMZN Nov 22 2014 Call 330.0 at 2.10000 -70.42% ($-2,500.00) Loss
NFLX Options Sell to close 10.00 (3.75%) of NFLX Nov 22 2014 Call 385.0 at 8.00000 22.14% ($1,450.00) Profit

Our other portfolio, Happy Trades, did much better this week, and with trades that are much less risky (Click here to see the Weekly Wrap-Up report from Happy Trades).

The Dow added +175.32 points; SPX added +23.68 points; Nasdaq gained +24.34 points. Gold bounced to near $1200/ounce. Oil finally found a breather in its drop, closing at around $76.8/barrel. At the time of this writing, Asian markets were mostly up. Here's where the US markets stood after Friday's close:

SPX

SPX added +10.75 points to close at 2063.5. The MACD was still flat.

Nasdaq

Nasdaq gained +11.1 points to close at 4712.97. The MACD was down slightly.

The market indices got a nice pop on Friday, but, could not hold on to most of the gains. For the new week...

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Posted to Ecstatic Plays on Nov 24, 2014 — 12:11 AM
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