Commodity Sectors Jump Again! CNX, BTU, CLF, X, AKS, NUE, FSLR, SPWRA, TSL, STP, POT, MOS

The market continued with its graduate ascend.  Commodity sectors were strong again!  Yesterday, I wrote about the coal stocks.  Today, they pushed higher:  CNX +4.47%; BTU +2.11%; CLF +5.1%.  Yesterday, we bought CNX Oct 42 calls:

September 14, 2009
07:46 | HappyTrading CNX ($42.20) Bought to Open SDFJP Oct 42 calls, at $2.69

Today, we cashed them out as high as +71%:

September 15, 2009 
09:10 | HappyTrading CNX ($45.00) Sold to Close SDFJP Oct 42 calls, at $4.40 +64%
08:11 | HappyTrading CNX ($45.30) Sold to Close SDFJP Oct 42 calls, at $4.60 +71%
08:00 | HappyTrading CNX ($44.80) Sold to Close SDFJP Oct 42 calls, at $4.30 +60%

These options closed at $4.7, 10 cents above our highest exit.

Other than coals, steel stocks also "roared" today.  X jumped to almost $50/share before cooling down to close at $48.98.  AKS added +5.67% and NUE gained +2.09%.  In the Trading Room, I alerted early that X was on its way up, when X traded just under $48:

September 15, 2009 7:59 AM
X
breaking out…

In about an hour, X did a huge jump to almost $50!

Our plays in the casino stocks continued to pay off.  We locked in some profits on LVS for a +89% gain: 

September 15, 2009
12:37 | HappyTrading LVS ($19.48) Sold to Close LJJJQ Oct 17 calls, at $3.30 +89%

These LVS OCT 17 calls were purchased last Friday at $1.75:
September 11, 2009
06:49 | HappyTrading LVS ($17.20) Bought to Open LJJQ Oct 17 calls, at $1.75

The Dow ended up +56.61 points; SPX added +3.29 points; Nasdaq gained +10.86 points:

Commodity sectors got stronger today again:  OIH (oil services) +1.7%; XME (metals and mining) +2.9%; XLE (energy) +1%; GDX (gold miners) +3.22%.  Both USO (oil) and UNG (natural gas) gained over +2%.  XLF (financials) took a backseat today, closing basically flat.  FXI (Chinese ADRs) slipped.

SPX

SPX added +3.29 points to close at 1052.63, above the 1050 level.  Its daily MAs and MACD were up.

Nasdaq

Nasdaq gained +10.86 points to close at 2102.64, above the 2100 level.  Its daily MAs and MACD went higher.

Commodity sectors continue to push the market higher, even though financials were mixed and basically flat as a sector.  One interesting thing today was that the energy sector turned stronger as oil prices went above $70/barrel.  The solar stocks also participated: FSLR +5.27%, SPWRA +4.06%, TSL +7.97%, STP +6.6%.  Another sector that drew buyers in was the fertilizers.  POT jumped more than $5, closing at $93.85.  MOS added +4.13%. 

VIX slipped further and closed below 24.  I think VIX will test 23 again tomorrow.  If VIX breaks below 23, I think we’ll see SPX above 1060!

Good night and HappyTrading! ™