December 21, 2012 at 00:56 AM EST
Profits Locked In: GLD, NTAP, VMW, QIHU, ISRG, HLF, MA, V, RHT, NKE, RIMM
On Wednesday, we locked in profits on most of our positions.  We scored +110% gain on VMW calls and +130% profit on NTAP calls.  GLD fell sharply today.  Although we cashed out our puts a day too early, it was still a profit of +102%. 06:57 | Ecstatic Plays QIHU ($26.55) Sold to Close 12C25 [...]

On Wednesday, we locked in profits on most of our positions.  We scored +110% gain on VMW calls and +130% profit on NTAP calls.  GLD fell sharply today.  Although we cashed out our puts a day too early, it was still a profit of +102%.

  • 06:57 | Ecstatic Plays QIHU ($26.55) Sold to Close 12C25 Dec 25 calls, at $1.60 +45%
  • 06:55 | HappyTrading NTAP ($34.50) Sold to Close 12C32 Dec 32 calls, at $2.55 +130%
  • 06:42 | HappyTrading VMW ($98.30) Sold to Close 12C90 Dec 90 calls, at $8.20 +110%
  • 06:39 | Ecstatic Plays GLD ($161.70) Sold to Close 12P165 Dec 165 put, at $3.40 +102%

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There were many big movers on Thursday.  ISRG continued to fall, losing another 5.27% today.  It fell from around the $550 level on Monday’s close to now just below $490!  A short selling website Citron Research released its opinion that ISRG could fall to below $300.  HLF also continued to drop, down almost 10% today.  It fell from around $42 on Wednesday after to today’s close of $33.7.  HLF started to fall sharply after hedge fund manager Bill Ackman accused the company, Herbal Life, of being a pyramid scheme.  MA and V climbed to new all-time highs today with MA almost touching $500 and V topping $152.

After the market, RHT reported a strong quarter and announced a deal to buy a startup, ManageIQ.  RHT shares popped nearly +7%.  NKE shares climbed +4.75% after reported better-than-expected quarterly results.  RIMM reported narrower losses and initially saw its shares trading higher.  However, the trading quickly reversed to the down side, slumping 9% from the day’s close, as the company still seems to be struggling come up with plans to compete with other smartphones.

This evening, Boehner abandoned putting his "Plan B" to vote, as there was not enough support.  This really seems like the GOP is struggling.  If "Plan B" had passed, it could have placed the White House in a tougher position.  Now, it actually looks like the ball is staying the GOP’s court.  Now, Boehner may have to go back to the negotiation table with President Obama and accept the compromised offer of raising tax rates on those that earning more than $400,000/year.

Stock futures fell sharply on the news.  We’ll be able to react in either direction tomorrow as we are back in mostly cash after locking in our profits on both sides on Wednesday.  Could be an interesting Friday!

Good night and HappyTrading! ™

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