February 06, 2013 at 23:58 PM EST
Things Are Getting A Bit Shaky! SPX, Nasdaq, APC, AAPL, AMZN, SPDA, FSLR, CLF, WLT, X
On Monday, the market took a quick drop. But, it managed to recovered everything on Tuesday. Today, stocks struggled to find a direction. We closed many trades so far this week. No "huge" gains, but, mostly on the plus side. When the market swings back-and-forth like it had these past few days, it’s better to [...]

On Monday, the market took a quick drop. But, it managed to recovered everything on Tuesday. Today, stocks struggled to find a direction. We closed many trades so far this week. No "huge" gains, but, mostly on the plus side. When the market swings back-and-forth like it had these past few days, it’s better to lock in gains while you have them.

We trade AAPL on both sides. Made a nice overnight trade on APC’s earnings. SODA provided a quick intraday winner today:

  • February 06, 2013
  • 12:05 | HappyTrading FSLR ($30.95) Sold to Close 02C30 Feb 30 calls, at $1.57 +16%
  • 08:42 | Ecstatic Plays AAPL ($463.00) Sold to Close 02C465 Feb 465 calls, at $6.60 -10%
  • 08:37 | Ecstatic Plays SODA ($51.35) Sold to Close 02C50 Feb 50 calls, at $2.30 +44%
  • 08:23 | Ecstatic Plays SODA ($50.90) Sold to Close 02C50 Feb 50 calls, at $2.05 +28%
  • 06:40 | Ecstatic Plays AAPL ($459.50) Sold to Close 02C455 Feb 455 calls, at $9.00 +43%
  • February 05, 2013
  • 11:51 | Ecstatic Plays AAPL ($459.00) Sold to Close 0208C455 Feb 455 calls, at $9.00 +43%
  • 08:49 | Ecstatic Plays AMZN ($265.20) Sold to Close 0208P260 Feb 260 put, at $1.70 +17%
  • 08:46 | Ecstatic Plays AAPL ($450.00) Sold to Close 02C450 Feb 450 calls, at $7.00 +21%
  • 08:31 | Ecstatic Plays AAPL ($449.30) Sold to Close 02C450 Feb 450 calls, at $6.60 +14%
  • 07:23 | Ecstatic Plays V ($158.90) Sold to Close 02C160 Feb 160 calls, at $2.09 -16%
  • 06:52 | HappyTrading APC ($82.50) Sold to Close 02C80 Feb 80 calls, at $3.25 +63%
  • February 04, 2013
  • 08:48 | Ecstatic Plays AAPL ($447.00) Sold to Close 0208P450 Feb 450 put, at $9.20 +23%
  • 08:48 | Ecstatic Plays AAPL ($447.00) Sold to Close 0208P450 Feb 450 put, at $9.20 +23%
  • 08:24 | HappyTrading CMI ($116.45) Sold to Close 02C115 Feb 115 calls, at $4.00 +5%
  • 07:54 | HappyTrading CLF ($38.00) Sold to Close 02C37 Feb 37 calls, at $1.80 +20%

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The Dow was up +7.22 points; SPX added +0.83 point; Nasdaq slipped 3.1 points:

XME (metals and mining) gained almost +2%. Most other sectors were basically flat.

SPX

SPX added +0.83 point to close at 1512.12. Its daily MAs were up, but, the MACD was flat.

Nasdaq

Nasdaq slipped 3.1 points to close at 3168.48. Its 10-day MA and MACD were flat.

The market seems to be consolidating here, around SPX 1500 to 1510. Dip-buyers have been buying every dip, propping the market up. Even if the market does get a pullback, it’ll probably be shallow. Immediate support for SPX is between 1500 and 1490. One thing interesting is that mining stocks were the strongest today. XME has been lagging. For the month of January, it was actually down! Are some funds starting to rotate sectors? It seems like it. WLT added +3.02% today, and X was up +2.43%.

Good night and HappyTrading! ™

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