The week started off with a bang as the stock market indices gapped up big time, but then pulled back sharply to do retesting at about 2555 on the Nasdaq 100 and 1346 on the S&P 500. That held, and they rallied back in stair-step fashion to reach new highs today at 2572.60 on the NDX and 1353.35 S&P 500, although 1353.35 was not higher than last Thursday‘s high, and we did not get a confirmation on the new NDX high today.
Net on the day, the Dow was up 72.81 at 12,874.04, the S&P 500 up 9.13 to 1351.77, 14 points off its high, and the Nasdaq 100 up 22.17 at 2569.49, 3 points off its high.
Advance-declines were better than 3 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on Nasdaq as well. Up/down volume was 3 1/2 to 1 positive on New York, with total volume a light 675 million shares traded today. Nasdaq traded about 1.58 billion shares, and had an 11 to 4 positive volume ratio.
TheTechTrader.com board, as a result, was mostly higher today. Leading the way, Blue Dolphin Energy Company (BDCO) was up 4.18 to 9.35, or 80.7%, on nearly 900,000 shares traded. Complete Genomics, Inc. (GNOM) jumped 1.37 to 4.66, or 41.6%, on 27 million shares. Mission NewEnergy Limited (MNEL) was up 54 cents to 1.89, or 40%; Excel Maritime Carriers, Ltd. (EXM) 26 cents to 2.15, or 14%; GMX Resources Inc. (GMXR) 30 cents to 1.81, or 20%; Royale Energy Inc. (ROYL) 82 cents to 5.36, or 18%; Kandi Technologies, Corp (KNDI) 46 cents to 3.80, or 13.8%; and LCA-Vision Inc. (LCAV) 70 cents to 5.90, or 13 1/2%.
In addition, Regeneron Pharmaceuticals, Inc. (REGN) gained 12.57 to 114.65 on earnings, Fuel Systems Solutions, Inc. (FSYS) was up 2.58 to 26.74, and DryShips Inc. (DRYS) climbed 34 cents to 3.34 on 23 million shares, in a strong shipping sector. Genco Shipping & Trading Ltd.