from MyHappyTrading.com by HappyTrading! ™ Sign up for FREE membership!
The market was able to eke out a gain on a late rally. Solar stocks were strong right from the start on Presiden-elect Obama’s green energy plans, including doubling alternative energy production in the next three years! FSLR and SPWRA both added more than +4%; ENER gained +8.34%; EMKR flew up +17.36%; and YGE jumped +10.35%. After the market APOL reported better-than-expected earnings and sent its stock soaring more than +8%! ESI traded +5.33% higher during the regular session and gained another $1.7 in AH trading. I commented in the Trading Room this morning:
HappyTrading ESI/APOL
APOL reporting after market today; ESI looks like it can break out!
We also picked up some APOL Jan 80 calls:
08:15 | HappyTrading APOL ($77.40) Bought to Open OAQAP Jan 80 calls, at $3.60
APOL traded above $84 in AH trading! Other education stocks such as CECO and DV also traded higher.
The Dow was down 27.24 points; SPX added +3.08 points; Nasdaq gained +17.95 points:
GDX (gold miners) led the market with a +5.79% rise, while GLD (gold) gained +2.07%. XME (metals and mining) added nearly +4%. HGX (housing) advanced +3.18%, but, XLF (financials) was slightly lower. FXI (Chinese ADRs) lost 1.77%. Foreign currencies (FXY, FXE, FXB) traded higher.
SPX
SPX added +3.08 points to close at 909.73, above 900. Its daily MAs have formed a new bullish formation. The MACD was flat.
Nasdaq
Nasdaq gained +17.95 points to close at 1617.01, above 1600. Its daily MAs and MACD were higher.
The market was able to bounce higher after yesterday’s pullback. Both SPX and Nasdaq now have formed new bullish formations in their daily MAs. We have job reports tomorrow. Most people are expecting more bad news. The broader market staged a late, surprising, rally to close in the green, ahead of the job reports. But, some ultrashort ETFs such as SRS and SKF stayed strong. We’re getting some mixed signals, likely due to people hedging their positions. So, let’s see how the market reacts tomorrow after the job reports come out.
Good night and HappyTrading! ™
