optiondragon
Posted July 22, 2008 at 8:31 am | Permalink (Edit)
Focusing on financials..GS, XLF, PNC, STT, CMA, NTRS, BBT, MTB

HappyTrading
Posted July 22, 2008 at 8:31 am | Permalink (Edit)
BAC ($30.45)
BACHF, Aug 30 calls, bought at $2.1

HappyTrading
Posted July 22, 2008 at 10:22 am | Permalink (Edit)
PRU
looking strong.

Ktbbq
Posted July 22, 2008 at 1:05 pm | Permalink (Edit)
Thanks for the BAC calls this morning. Got in at $1.93. Closed $3.65. 89% today, almost a bagger!

You can see these comments throughout the day as they are made!

After the market, ISRG destroyed the estimates with its earnings! Its stock was up $32.77, or +11.69%, in AH trading! ILMN reported great earnings, boosted guidance, and announced a 2-for-1 stock split! ILMN traded higher by $3.5 after the report.

The Dow closed up +135.16 points; SPX added +17 points; and Nasdaq gained +24.43 points:

VIX was not able to get much higher than 24 today and ended down 8.11% to close at 21.18. The commodities and related sectors were weak: GLD (gold) -2.17%; SLV (silver) -2.57%; USO (oil) -3.14%; XME (metals and mining) -3.79%; OIH (oil services) -2.67%. XLE (energy) slipped another 3.32%. XLF (financials) rose +8.39% while HGX (housing) added +4.6%. BTK (biotechs) advanced +2.69%. FXI (Chinese ADRs) was higher by +1.67%.

SPX

SPX added +17 points to close at 1277. It closed above its 20-day MA and just beneath the 1280 level. The MACD continued higher.

Nasdaq

Nasdaq gained +24.43 points to close at 2303.96. It also closed above its 20-day MA and above 2300! Its MACD glided up, as well.

This weekend, in my Market Forecast, I said, “For the new week, as long as the financial sector continues to recover to the upside, the overall market should do the same.” The market was very impressive today with the financials brushing aside the disappointing earnings report from AXP and pushed higher. The market is now solidly above the 20-day MA. It does look the market could test the 30-day MA soon.

Good night and HappyTrading! ™