Markets Close the Week Surpassing Four Year Highs Energy and Techs Lead
Stocks end the week on a four day rally, rising to its highest levels since late 2007. Investor confidence came rushing into the markets after the Federal Reserved confirmed a third round of quantitative easing involving plans on mortgage purchasing to help stimulate recovery and job creation. Materials was another leading sector this week, with significant jumps in pricing in the metals markets.
The Nasdaq, heavily weighted in the techs and energy lead Friday’s bull run. Just two days after AAPL announced it’s iPhone 5 and revisions to the iPod line up, shares hit an all time high of 696.98 after hitting an intraweek low of 656.00. Shares of Priceline (PCLN) also closed the day at 637.48 after hitting a high of 645.06. Several analysts have boosted price target of AAPL and PCLN in the past week with several other tech leaders following in the mix.
Last week and this week, I alerted my subscribers in taking several bullish positions on playing the AAPL and PCLN spreads. We closed this week taking in max profits for over 40% gains on all positions.
Disclosure: I am long AAPL and PCLN.
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Post Written By: Mark Options Elite
My name is Mark and I am an options trader as well as a full time school teacher. I focus on minimizing risk on while still creating well over 25% to 100% returns on options scalping and complex strategies. My goal is to help you to better understand the basic factors involved with options trading, balance risk and reward, and providing winning plays on the market leading stocks. Come in and land some huge trades with me in TheStockMarketWatch chatroom!
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