Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, BTK, FAS, XLE, FDN, AGN, GILD, AMGN, MA, APC, HES, FLR, XOM, CVX, TWTR, FB

Stocks had a strong week last week, bouncing back to close near 1965, from last week's close of below 1890, an impressive feat! Besides a stutter on Wednesday, all three major market indices made advances on four of last week's five trading days.

We had a mixed week last week. Our TSLA trades did not work out and we cut the losses. However, BRCM calls did bring us a handsome +285% profit! Here are the closed trades for last week:

BABA Options Sell to close 10.00 (1.75%) of BABA Oct 31 2014 Call 95.0 at 3.40000 36.00% ($900.00) Profit
FSLR Options Sell to close 10.00 (2.37%) of FSLR Nov 22 2014 Call 55.0 at 4.60000 11.92% ($490.00) Profit
TSLA Options Sell to close 5.00 (0.32%) of TSLA Oct 24 2014 Put 230.0 at 1.20000 -82.86% ($-2,900.00) Loss
FAS Options Sell to close 10.00 (0.34%) of FAS Oct 24 2014 Put 99.0 at 0.65000 -56.67% ($-850.00) Loss
MLNX Options Sell to close 5.00 (0.98%) of MLNX Nov 22 2014 Call 45.0 at 3.80000 -7.32% ($-150.00) Loss
APA Options Sell to close 10.00 (1.41%) of APA Nov 22 2014 Call 75.0 at 2.75000 19.57% ($450.00) Profit
TSLA Options Sell to close 5.00 (1.49%) of TSLA Oct 24 2014 Call 230.0 at 5.80000 -22.67% ($-850.00) Loss
BRCM Options Sell to close 10.00 (1.74%) of BRCM Oct 24 2014 Call 37.0 at 3.35000 285.06% ($2,480.00) Profit
TSLA Options Sell to close 5.00 (0.64%) of TSLA Oct 24 2014 Put 230.0 at 2.44000 -65.14% ($-2,280.00) Loss
MLNX Options Sell to close 5.00 (1.46%) of MLNX Nov 22 2014 Call 43.0 at 5.60000 55.56% ($1,000.00) Profit
TSLA Options Sell to close 5.00 (1.64%) of TSLA Oct 24 2014 Call 230.0 at 6.30000 -16.00% ($-600.00) Loss
MLNX Options Sell to close 5.00 (1.18%) of MLNX Nov 22 2014 Call 43.0 at 4.50000 25.00% ($450.00) Profit
SFLY Options Sell to close 30.00 (0.00%) of SFLY Oct 18 2014 Call 50.0 at 0.00000 EXPIRED
ACOR Options Sell to close 30.00 (0.00%) of ACOR Oct 18 2014 Call 35.0 at 0.00000 EXPIRED
ILMN Options Sell to close 10.00 (0.00%) of ILMN Oct 18 2014 Call 180.0 at 0.00000 EXPIRED

For the week, the Dow was up +425 points: SPX added +77.82 points; Nasdaq gained +225.82 points. Gold pulled back to below $1230/ounce, while oil sank to below $81/barrel. At the time of this writing, Asian markets were mixed, with Shanghai and Hong Kong falling. Here are how the US markets closed on Friday:

SPX


On Friday, SPX added +13.76 points to close at 1964.58. It closed above its daily MAs. The MACD went up.

Nasdaq


Nasdaq gained +30.92 points to close at 4483.72. Its 10-day MA turned up.

Both SPX and Nasdaq managed to close above their respective daily MAs. For the new week...

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Posted to Ecstatic Plays on Oct 26, 2014 — 11:10 PM
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