The stock market indices had an up day today, although the day started out with a plunge to the downside. They took out immediate support, but quickly reversed and rallied sharply, with the Nasdaq 100 jumping from 2570 to 2598. The S&P 500 thrust from 1352 to 1362, and then they rolled over in the afternoon to retest, with the NDX coming down much harder than the S&P 500, which held up much better. They reversed in mid-afternoon and rallied back, and closed just off the highs for the day going away as a last-minute pullback brought them off the session highs.
Net on the day, the Dow was up 46.02 at 12,984.69, with a high just under 13,000 at 12,997. The S&P 500 was up 5.80 to 1363.46, just a point off the high, and the Nasdaq 100 up 15.15 at 2594.93, less than 4 points off its high.
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Advance-declines moved solidly into the plus column, with 2162 up and 843 on the New York Stock Exchange, and 18 to 7 positive on Nasdaq. Up/down volume was 5 to 2 positive on New York, with total volume of 750 million shares traded today. Nasdaq traded about 1.75 billion shares, and had a 12 1/2 to 5 positive volume ratio.
TheTechTrader.com board, as a result, was mostly higher. Leading the way, VIVUS, Inc. (VVUS), on a drug approval, exploded past 21, but closed at 18.73, up 8.18, or 77 1/2%, on 58.6 million shares. Sears Holdings Corporation (SHLD), after the announcement of the sale of several of their stores, was up 9.72 to 61.80, or 18.66% today. Smart Balance Inc (SMBL) gained 1.25 to 6.90, or 22%, on 1.9 million shares. Exterran Holdings (EXH) advanced 2.33 to 14.44, or 19%, on 4.2 million shares.
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Orexigen Therapeutics, Inc. (OREX) in sympathy with VIVUS jumped 45 cents to 3.66, or 14%, on 14.1 million shares. Metro PCS Communications, Inc. (PCS) added 1.42 to 11.70, or 13.8%, on 4.4 million shares, and Smith Micro Software, Inc. (SMSI) had a nice snapback move, up 33 cents to 2.65, or 14%. 3D Systems Corp (DDD) was up 2.38 to 23.31, Level 3 Communications, Inc. Co (LVLT) 2.62 to 23.51, BroadVision, Inc.