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.
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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.
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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.