Join        Login             Stock Quote

Spectacular Day On The Street

 October 27, 2011 08:23 PM

The stock market indices had a spectacular session for most of the day. A very sharp, late sell-off pared back the gains, but, nevertheless, it was still a big day.

The day started out with monster gap-ups on positive news out of Europe. They then sold off pretty sharply, but held the majority of their gains, and then started a 5-wave advance that took the Nasdaq 100 from 2366 all the way up to 2412 today. A late sharp pullback brought it back to 2390, but it closed just under 2400. The S&P 500, which gapped up and pulled back about 10 points, ran from 1265 to 1293. A sharp pullback to 1279 ensued, but then it closed back up at 1284.

Net on the day, the Dow was up 339.51 at 12,208.55, or 3%; the S&P 500 up 42.56 at 1284.59, or 3 1/2%; and the Nasdaq 100 up 65.04 at 2399.83, or about a 3% gain.

[Related -Bank Stocks: The Misbegottenness of the Volcker Rule Truly Knows No Bounds]

So, it was a big day across the board.

Technicals were fantastic. Advance-declines were about 8 to 1 positive with 2715 up and 360 down on the New York Stock Exchange, and Nasdaq was 5 1/2 to 1 positive with 2200 up and 432 down. Up/down volume was spectacular today at 20 to 1 positive on New York with 1 1/3 billion up and 67 million down. Nasdaq had 2.4 billion up and 358 million down, and an 8 to 1 positive volume ratio.

It was certainly a big day on Wall Street today.

TheTechTrader.com board was extremely positive today. Leading the way, Citrix Systems, Inc. (CTXS) was up 11.13 to 75.35, Akamai Technologies Inc. (AKAM) up 3.67 to 27.45, VASCO Data Security International Inc. (VDSI) 1.85 to 8.13, Logitech International SA (LOGI) 1.33 to 10.34, and Century Aluminum Co. (CENX) 1.86 to 11.71.

[Related -Gold hasn’t lost its allure in my portfolio]

In addition, QuickLogic Corp. (QUIK) was up 63 cents to 2.93, or 27%; Acme Packet, Inc. (APKT), a stock we traded today, was up 5.63 to 35.18, or 19%; Terex Corp. (TEX) 2.79 to 17.73, or 18 1/2%; SolarWinds, Inc. (SWI) 3.86 to 27.90, or 16%; Finisar Corp. (FNSR) 2.42 to 20.76, or 13%; Chinese Zhongpin, Inc.

Next Page >>123


Comments Closed

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.