Weekly Wrap-Up (up +114% in 2 months!) + Market Forecast + Sector Watch: GS, ALXN, BIDU, AAPL, POT, CTRP, LNKD, CLVS, TIBX, BIIB

Last weekend, in my Market Forecast, I wrote:

" For the new week, I think the markets will be volatile again. Although we saw a solid bounce on Friday, both SPX and Nasdaq closed below their respective daily MAs (The Dow looks a bit stronger, closing above its 20-day MA). If SPX and Nasdaq fall below the support levels again, I don't think they will hold this time. Below 1980, SPX has support around 1950, while for Nasdaq, below 4500, it has support between 4400 and 4350."

Once again, things happened as discussed in the forecast. On Monday and Tuesday, the markets negotiated with the support levels, ie SPX 1980 and Nasdaq 4500. Wednesday morning brought a quick drop, and the support levels were broken. It was like the flood gate was open, and the "water level" kept going lower. The sell-off continued on Thursday morning, and SPX went briefly below 1930, while Nasdaq fell below 4370. Buyers quickly came in. By the time, market closed on Thursday, SPX came back up and tested 1950! Friday was a positive day after jobs report came in better than expected. For the week, SPX still closed below 1980 and Nasdaq closed below 4500.

We had a really nice week, catching nice trades on both sides. 100% of our closed trade were profitable. These 15 trades gave our portpolio another big boost of over $25,000. My Ecstatic Plays Portfolio is now up +114% after just 2 months!

GS Options Sell to close 10.00 (2.46%) of GS Oct 18 2014 Call 185.0 at 5.00000 6.38% ($300.00) Profit
ALXN Options Sell to close 5.00 (2.69%) of ALXN Oct 18 2014 Call 165.0 at 10.80000 111.76% ($2,850.00) Profit
BIDU Options Sell to close 5.00 (2.58%) of BIDU Oct 18 2014 Put 215.0 at 10.36000 ...
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Weekly Wrap-Up (up +114% in 2 months!) + Market Forecast + Sector Watch: SPX, Nasdaq, FAS, FDN, TAN, OIH, XLE

Last weekend, in my Market Forecast, I wrote:

" For the new week, I think the markets will be volatile again. Although we saw a solid bounce on Friday, both SPX and Nasdaq closed below their respective daily MAs ...

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Markets Bounce Back From Morning Weakness! SPX, Nasdaq, BIDU, AAPL, POT, TSLA, GPRO, MBLY, CREE

After yesterday's big falloff, markets opened with continued weakness in the morning.  We started locking in profits in the afternoon, after lunch, on the downside plays.  Our timing was just about perfect!  Here are the closed trades for today:

We ...

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It's Official! MyHappyTrading Is Now on Marketfy!!

Hello to members of both MyHappyTrading and Marketfy!

MyHappyTrading has officially moved and joined Marketfy.com!

I have been trading options for almost 20 years. I recently joined Marketfy.com, and started trading a portfolio called Ecstatic Plays on August 1, 2014. ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, FDN, SOXX, OIH

Last weekend, in my Market Forecast, we discussed:

"For the new week, Friday's afternoon selloff negated a breakout. It looks like markets are still consolidating. The support levels may need to be tested again: SPX 1980 and Nasdaq 4500."

Well, ...

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After A Day of Gains, Markets Slump! SPX, Nasdaq, AGN, VRX, VRTX, GPRO, GOOG, NFLX, PCLN

Yesterday, stocks popped higher a logged in the best day in weeks.  Today, in was a complete reversal, and more!  Stocks fell from the opening, and just kept falling.  There may be a million seemingly logical reasons that people may ...

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XOM, CVX, APC, APA, EOG, OXY, SLB, HAL, NOV, RIG, GS, WFC, JPM, BAC, MA, V, BIIB, CELG, ILMN, GILD

Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the selling pressure is increasing, especially with the Fed meeting on Tuesday and Wednesday. SPX's initial support is between 1980 and 1970. 1950 should ...

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Stocks Mixed After Fed Keeps Rates Low: SPX, Nasdaq, NUE, GMCR, PAY, CMG, VIPS, BIDU, DD, NFLX, AMZN, LNKD, SSYS, DDD

It has been a very volatile week, especially for tech stocks. On Monday, Nasdaq experienced a sharp pullback as internet stocks led the selloff. We were quick to participate in some puts. We traded CMG twice with Sept 660 and ...

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Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XLE, XME, FDN, FB, AMZN, GOOG, PCLN, TWTR, CTRP, YELP, X, NUE, STLD, EOG, OXY, NOV, SLB, APC, APA

Markets continued to trade in a tight range. Nevertheless, SPX managed to finish the week at a record close! Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the markets will continue to ...

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Markets Reverse Early Gains to Close Lower: SPX, Nasdaq, AMZN, EOG, APA, APC, NOV, SLB, PCLN, VIPS

Markets opened strongly on Thursday, buy, ended in the red. SPX made a new all-time high at 2011.17. In my Market Forecast this weekend, I said that the market will continue to consolidate. After 3 days of trading, SPX has ...

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Market Forecast + Sector Watch: SPX, Nasdaq, FAS, XME, IGV, SOXX, MSFT, ADBE, CRM, CTXS, MPWR, CAVM, AMBA, GS, WFC, JPM, MA, V

As mentioned in August's Monthly Wrap-Up, US markets closed at new all-time highs. Last weekend, in my Market Forecast, I wrote:

"For the new week, I think the market can use some time to consolidate. On the other ...

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August 2014 Monthly Wrap-Up: UTHR, AMZN, CLVS, JKS, RGLD, GOOG, CTRP

Happy Labor Day weekend!

Markets pushed higher again in August, with both the Dow and SPX closing at new all-time highs! Nasdaq is also at a height not seen for more than a decade. Last week, we had some really ...

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