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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