Join        Login             Stock Quote

Apple And Google Pressure Market In Mixed Session

 December 08, 2012 02:09 PM

The stock market indices ended mixed on the session, but quite volatile with a lot of pressure from the Nasdaq 100, particularly, Apple Inc. (AAPL) and Google Inc. (GOOG), which were both down sharply. The day started out with a gap up, and then they sold off fairly sharply, until midmorning when the S&P 500 started to bounce, but the NDX, at that point, couldn't do more than just stabilize. As the afternoon approached, the NDX started to move up a little, reaching key resistance near 2645, and near 1416 on the S&P 500. They backed off in the last hour, only to come on again at the close.

Net on the day, the Dow was up 81.09 at 13,155.13, 2 points off the high and about 80 points off the low. The S&P 500 closed above 1400 at 1418.07 up 4.13, 2 points off the high and 7 points off the low. The Nasdaq 100 was down 16.76 at 2640.54, 31 points off the high and 9 points off the low.

[Related -Level Watching and Swing Trade Planning for Amazon (AMZN)]

Advance-declines were 16 to 13 positive on the New York Stock Exchange, and about 160 issues negative on Nasdaq. Up/down volume was 2 1/2 to 1 positive on New York, with total volume of 570 million shares. Nasdaq traded over 1.5 billion and had a 3 to 2 negative plurality, declining volume over advancing volume.

TheTechTrader.com board was mixed with Apple Inc. (AAPL) down 13.99 to 533.25, 3 points off its low, and Google Inc. (GOOG) down 6.92 to 684.21, 2 points off its low, which kept pressure on that index all day. Amazon Inc. (AMZN) did close flat however, down just 10 cents to 253.27.

There were some spectacular moves on our board today. CombiMatrix Corporation (CBMX) came out with a major scientific discovery, or at least a fact sheet indicating that their technology should be used. It closed at 8.60, up 6.63, or 336.5%, on 1.3 million shares, a 46,000% increase in volume. Good Times Restaurants Inc. (GTIM) gained 77 cents to 2.72, or 40.5%, on 1 million shares.

[Related -Boost Your Dividend Yield]

In addition, Groupon, Inc. (GRPN), which we traded today, was up 88 cents to 4.69, or 23%, on 50.5 million shares. Uni-Pixel, Inc. (UNXL), a stock we picked and traded today, jumped 1.49 to 9.75, or 18%, on 1.1 million shares. The GEO Group, Inc. (GEO), one of our swing trades, did well, up 1.49 to 9.75, or 18%, on 1.1 million shares.

Other gainers of note included Ruckus Wireless, Inc. (RKUS), a new IPO, up 1.20 to 17.60. Sears Holdings Corporation (SHLD) was up 2.71 to 42.96, Approach Resources, Inc. (AREX) 1.06 to 24.20, Universal Display Corp. (PANL) 1.26 to 26.70, Workday, Inc. (WDAY) 2.80 to 51.20, and Yelp, Inc. (YELP) 96 cents to 19.05.

Stepping back and reviewing the hourly chart patterns, the indices were up early, but came down hard in the morning, bounced around midday, tried to rally in the afternoon, but the Nasdaq 100 wouldn't cooperate, its weakness being AAPL and GOOG. The S&P 500 and Dow continued to press higher and closed near the afternoon highs. They ended the day up on the session, while the Nasdaq 100 was down nearly 16 today.

It was a mixed day, so we'll see what that brings next week.

Good Trading!




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

rss feed

Latest Stories

article imageWorld Growth: Mediocre or Pathetic?

The recent disappointing performance of the world economy has been labelled as the "new mediocre" by read on...

article imageSurvey Data For US Services Sector Hint At Mild Q2 Rebound

Yesterday’s discouraging numbers on job growth in April via the ADP Employment Report raise doubts about a read on...

article imageADP: US Job Growth Stumbled In April

Employment growth at US companies slowed in April to the weakest gain in three years, according to this read on...

article imageBogle Says Indexing Destined To Win The Battle Of The Quants

Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out 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.