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A Nice Start To The Week
By: Harry Boxer   Tuesday, May 29, 2012 6:33 PM
Symbols: AAPL, ALL, AMZN, CRUS, EBS, EGY, GOOG, GS, IBM, MVIS, NSM, OVTI, PPC, SNTS, TEX, USG, VRTX
(MVIS) which jumped 1.36 to 2.59, or 110 1/2%, on 3.6 million shares. Vaalco Energy Inc. (EGY) was up 1.06 to 9.10, or 13%, on 1.35 million shares. Santarus, Inc. (SNTS) gained 81 cents to 6.80, or 13 1/2%, on 2 million shares.

VimpelCom Ltd. (VIP) was up 80 cents to 8.11, or nearly 11%, on 6 million shares. Spreadtrum Communications Inc. (SPRD) gained 1.71 to 18.20, or 10%, on 2.6 million shares. Terex Corp. (TEX) jumped 1.87 to 18.80, or 11%, on 6.5 million shares.

The Allstate Corporation (ALL) advanced 68 cents to 34.25. Nationstar Mortgage Holdings Inc. (NSM) was up 1.60 to 19.28. Emergent BioSolutions, Inc. (EBS), in a generally strong biotech sector, gained 1.21 to 14.91. Swing trade Pilgrim's Corp. (PPC) was up 59 cents to 8.56. USG Corporation (USG) advanced 1.28 to 16.95. Solazyme, Inc. (SZYM) gained 91 cents to 10.75. Cirrus Logic Inc. (CRUS) was up 1.94 to 29.39.

On the downside, Facebook, Inc. (FB) lost another 3.07 to 28.84, now nearly 10 of its IPO price. What a disaster there. Vertex Pharmaceuticals Incorporated (VRTX), which got crushed 14 1/2 points earlier today, dropped to 50, closing at 57.80, down 7.05, but it was way off the lows.

Stepping back and reviewing the hourly chart patterns, the indices gapped up, they ran sharply higher in the morning, reached the morning highs within an hour of the opening, and then pulled back to the session pullback lows by midday only to come back in the afternoon, and close not that far off the session highs. It was a nice start to the week.

Let's see how it goes tomorrow.

Good Trading!

Harry


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