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Indices Close Flat On Profit-Taking

 December 03, 2011 12:32 PM

The stock market indices started off with a bang on Friday, and reached the highs for the week in the morning, but then sold off the rest of the session on profit taking, and ended up very near flat on the day.

The day started out with a big gap up. They backed off to test, and ran to new highs for the week and the day at 2331 Nasdaq 100 and 1260 S&P 500. They sold off in the morning, bounced around midday, formed a bear flag, and rolled over in the afternoon to end up very marginally down on the day.

Net on the day, the Dow was down 0.68 at 12,019.42, and the S&P 500 down 0.30 to 1244.28, but the Nasdaq 100 lost 7.16 to 2302.04.

Advance-declines were 3 to 2 positive on both the New York Stock Exchange and on Nasdaq. Up/down volume was almost 3 to 2 positive on New York, with total volume of 850 million shares traded today. Nasdaq traded 1.6 billion shares and had an 8 to 7 negative volume ratio.

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TheTechTrader.com board was active with a few gainers. VirnetX Holding Corp (VHC) had a big day, up 2.62 to 22.16, on a potential court ruling with Apple Inc. (AAPL).

Among other leaders, low-priced Mitel Networks Corp. (MITL) rose 79 cents to 3.53, or 29%, and VisionChina Media Inc. (VISN) 33 cents to 1.46, or 29%. But the big gainer was Zumiez, Inc. (ZUMZ) up 5.62 to 28.99, or 24%, on strong earnings.

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In addition, The9 Limited (NCTY) was up 99 cents to 7.05, Macy's Inc. (M) up 38 cents to 32.54, Anthera Pharmaceuticals, Inc. (ANTH) 69 cents to 6.48, Navios Maritime Holdings Inc. (NM) 50 cents to 3.90, and Angie's List, Inc. (ANGI), a new issue, 1.46 to 14.01. Idenix Pharmaceuticals Inc. (IDIX) gained 62 cents to 8.22.

Goodrich Petroleum Corp.

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