Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, XLE, TLT, FAS, IGV, GS, PNC, STI, APA, APC, EOG, SLB, OXY, CYBR, FTNT, FEYE, HUM, CI, AET, UNH, ANTM

Last week, as expected, the market started on a weak note on Monday, But, buyers soon returned, leading up to a rally on Thursday, after the Fed told investors not to place too much importance on the initial interest hike, as rates are likely to remain low. But, on Friday, some fear returned, as investors shifted their focus back to Greece.

We had another nice week, with quite a few nice trades. As shown in my article on Wednesday night, my Ecstatic Plays portfolio's value pushed higher again! We started the week cashing in on VIX calls (+85.5%) when the market dropped on Monday. Then, we locked in gains on AET calls (+63.9%), as UNH made a buyout offer. I talked quite a bit about MBLY and we scored as high as +53% on MBLY calls on Wednesday. BA calls did well for us with profits as high as +54.6%. Here are the closed trades for the week:

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Tonight, the big news is that Greece seemingly has come to some senses and made a proposal that EU leaders think they can use as basis to make progress. Back in the US healthcare industry, M&A frenzy continues. ANTM has made a $47 billion bid for CI, which Cigna has rejected. On the other hand, AET has reported made an offer to acquire HUM, while AET itself is being pursued by UNH. This 5-way "love affair" is starting to get messy. Besides AET, I think the other four could all go higher!

For the week, the Dow was up +117.11 points; SPX added +15.88 points; Nasdaq gained +65.9 points. At the time of this writing, Asian markets were mostly up. Gold made a big bounce to $1200/ounce, while oil (WTI) as slightly lower, trading just below $60/barrel. Let's see where the US markets stood after Friday's close:


On Friday, SPX fell 11.25 points to close at 2109.99. It closed above its daily MAs. The MACD has turned up.


Nasdaq dropped 15.95 points to close at 5117. Its MACD went up slightly.Both SPX and Nasdaq now look healthy, thanks to Thursday's big pop. But, both are still within the trading range, even though Nasdaq has made a new all-time high. It is still unclear whether there will be a follow-through to that breakout attempt. For the new week...

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Posted to Ecstatic Plays on Jun 22, 2015 — 1:06 AM
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