Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XRT, XLE, FAS, FDN, WFC, PNC, STI, YELP, TWTR, LNKD, EXPE, APC, XOM, BP, UA, KORS

Markets took a tumble last week. Things were again volatile. Although big tech companies such as AAPL, GOOG, and AMZN delivered solid earnings, they were not able to offset the overall weakness.

We had positions on both sides going into the week. Besides the TRIP puts, which we probably exited early, most of the closed trades worked out pretty well (I am now including the entering prices and dates in weekly reports):

VXX Feb 20 2015 Call 31.0 $2.52 $5.325 $1,402.50 111.31% 01/23/2015 01/29/2015
VXX Feb 20 2015 Call 31.0 $2.52 $4.75 $1,115.00 88.49% 01/23/2015 01/29/2015
TRIP Feb 20 2015 Put 68.0 $3.325 $2.975 $-350.00 -10.53% 01/27/2015 01/28/2015
TRIP Feb 20 2015 Put 68.0 $3.325 $2.825 $-500.00 -15.04% 01/27/2015 01/28/2015
AAPL Feb 20 2015 Call 110.0 $6.30 $7.85 $775.00 24.60% 01/13/2015 01/28/2015
AAPL Feb 20 2015 Call 110.0 $6.30 $7.45 $575.00 18.25% 01/13/2015 01/28/2015
CMI Feb 20 2015 Put 143.0 $4.35 $5.55 $1,200.00 27.59% 01/27/2015 01/27/2015
GPRO Jan 30 2015 Call 48.0 $4.20 $3.50 $-700.00 -16.67% 01/23/2015 01/27/2015

For the week, the Dow was down 507.65 points; SPX fell 56.83 points; Nasdaq lost 122.64 points. Gold was basically flat, closing at around $1280/ounce. Oil bounced and was trading above $48/barrel after Friday's close. At the time of this writing, Asian markets were mostly lower. Let's take a look at the US markets:

SPX

On Friday, SPX fell 26.26 points to close at 1994.99. Its daily MAs and MACD slid.

Nasdaq

Nasdaq fell 48.17 points to close at 4635.24. Its daily MAs were mixed. The MACD was lower.

Both SPX and Nasdaq closed below their daily MAs, although the MAs were crisscrossed. For the new week...

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Posted to Ecstatic Plays on Feb 02, 2015 — 1:02 AM
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