Join        Login             Stock Quote

Monster Day, Great Technicals

 November 20, 2012 02:16 AM

It was a monster day on Wall Street as the stock market indices gapped up, and just kept running all day in stair-step fashion, including a late spurt into the close to leave the S&P 500 at the session highs going away into the bell, up nearly 27 points.

Net on the day, the Dow was up 207.34 at 12,795.65. The S&P 500 was up 26.99 at 1386.27. The Nasdaq 100 closed up 61.67 at 2595.83, just a point off the high.

Advance-declines were 8 to 1 positive, with 2700 up and 359 down on the New York Stock Exchange, and 4 to 1 positive on Nasdaq. Up/down volume was 15 to 1 positive on New York, with total volume of 678 million shares. Nasdaq traded over 1.7 billion and had a 7 to 1 positive volume ratio.

TheTechTrader.com board was mostly up. It was a big day for large-cap generals on Nasdaq as Apple Inc. (AAPL) jumped 38.05 to 565.73, completing an important short-term low for sure. Google Inc. (GOOG) jumped 21.03 to 668.21. Amazon.com Inc. (AMZN) was up 4.48 to 229.71. International Business Machines Corporation (IBM) snapped back 3.41 to 190.35. Goldman Sachs Group, Inc. (GS) ran up 2.46 to 118.30.

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

Other gainers included The Home Depot, Inc. (HD), one of our swing trade picks, up 1.21 to 63.33. Conns Inc. (CONN), another of our swing trade picks, was up 1.93 to 28.03. Cobalt International Energy, Inc. (CIE) gained 1.14 to 21.73, Ellie Mae, Inc. (ELLI) 1.39 to 24.69 and Patrick Industries Inc. (PATK) 1.03 to 18.27.

Today we picked Direxion Daily Small Cap Bull 3X Shares (TNA), which was up 3.06 to 51.82. The Direxion Daily Financial Bull 3X Shares (FAS) took back 4.97 to 102.74.

[Related -International Business Machines Corp. (IBM): What To Watch In Q3 Results?]

There were a lot of low-priced stocks on our board today that did well. Good Times Restaurants Inc. (GTIM) was up 45 cents to 2.11, or 27%. Ligand Pharmaceuticals Incorporated (LGND) jumped 2.40 to 19.07, or 14%, on 1.1 million shares. Green Mountain Coffee Roasters Inc. (GMCR) popped 2.78 to 27.33, or 11%, on 5.6 million shares. Cirrus Logic Inc. (CRUS), which we traded today, gained 2.56 to 30.83, or 9%, on 3 million shares.

3D Systems Corp. (DDD) was up 3.26 to 41.30, U.S. Silica Holdings, Inc. (SLCA) up 1.28 to 16.73, SINA Corporation (SINA) 3.52 to 48.59, Repros Therapeutics Inc. (RPRX) 89 cents to 13.37, and OmniVision Technologies, Inc. (OVTI) 98 cents to 14.33.

The Direxion Daily Gold Miners Bull 3X Shrs (NUGT), which we traded today, jumped 93 cents to 11.92. VelocityShares 3x Long Silver ETN (USLV) advanced 2.74 to 35.19.

On the downside, the ProShares Ultra VIX Short-Term Fut ETF (UVXY) got hammered for 4.73 to 22.64, and the Direxion Daily Small Cap Bear 3X Shares (TZA) lost 1.19 to 16.98. The ProShares UltraShort Silver (ZSL) dropped 2.44 to 43.67.

Those were the only point-plus losers on our board today.

It was quite a big day for Wall Street and an important technical day as the key declining topsline and moving averages were broken and closed above, with the NDX and S&P 500 near the highs for the day going away.

It was a spectacular session to start the week and an important day technical.

We'll see how it goes on tomorrow.

Good Trading!




Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageTackling China's Debt Problem: Can Debt-Equity Conversions Help?

China’s high and rising corporate debt problem and how best to address it has received much attention read on...

article imageWill Job Growth Kill The Bear-Market Signal For Stocks?

It’s all about jobs now. Actually, it’s always been about jobs. But the stakes are even higher—perhaps more read on...

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...

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.