Join        Login             Stock Quote

A Good Start To The Week

 January 22, 2013 08:55 PM

The stock market started out with a thud as the indices dropped sharply, led lower by market generals, such as Apple (AAPL) and Google (GOOG). But the market had a strong, afternoon rally when support held, and when the S&P 500 refused to confirm the NDX. At around 11:30 or so, the NDX reached the session lows, and the S&P 500 reached their lows around 10:00. They went straight up from there with only an afternoon pullback and then a late surge into the close, an explosive surge for the NDX, in particular.

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

Net on the day, the Dow was up 62.43 at 13,712.13, closing at the high for the day. The S&P 500 was up 6.53 at 1492.51, also closing right at the high for the day. The Nasdaq 100 went from 2726 to 2746, and closed within a point of its high, up 2.95.

Advance-declines were better than 2 to 1 positive on the New York Stock Exchange, and 3 to 2 positive on Nasdaq. Up/down volume was 3 to 1 positive on New York, with total volume of just under 700 million shares. Nasdaq traded nearly 1 3/4 billion and had a 10 to 7 positive volume ratio.

TheTechTrader.com board was led by Apple Inc. (AAPL), up 4.77 to 504.77, 3 points off the high, but 8 points off the low. International Business Machines Corporation (IBM) was up 1.61 to 196.08, and got up to 203 1/2 in afterhours, on strong earnings. Research In Motion Limited (RIMM) had a very special, big day today, up 2.06 to 17.90, on 110 million shares. SodaStream International Ltd. (SODA) jumped 1.00 to 49.75, on 4.1 million shares.

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

Other gainers of note included Goldman Sachs Group, Inc. (GS) up 1.50 to 145.95, First Solar, Inc. (FSLR) up 1.50 to 31.58, Facebook, Inc. (FB) 1.07 to 30.73, and Dunkin' Brands Group, Inc. (DNKN) 48 cents to 36.22, reaching near its post-IPO high.

There were quite a few percent gainers on our board today. Daqo New Energy Corp. (DQ) jumped 2.56 to 12.80, or 25%, on light volume. US Energy Corp. (USEG) gained 40 cents to 2.19, or 22%, on 1.1 million shares, 1300% more volume than usual. Matrix Service Company (MTRX) popped 1.67 to 14.80, or 12%. OM Group Inc. (OMG) exploded 2.73 to 25.91, or 12%, on 3 million shares. Seagate Technology Public Limited Company (STX) gained 2.51 to 37.89, or 7%, on 15 million shares.

Cimatron Ltd. (CIMT) advanced 92 cents to 6.47, or 16%, on 1.2 million shares, 4300% increase in volume. Hansen Medical, Inc. (HNSN) gained 31 cents to 2.57, or 13%, on 1.7 million shares. Celsion Corp. (CLSN) climbed 74 cents to 7.74, or 11%, on 1.6 million shares. JinkoSolar Holding Co., Ltd. (JKS) ran 84 cents to 7.73, or 12%. ACADIA Pharmaceuticals Inc. (ACAD) was up 45 cents to 5.67, or 9%, on 2.2 million shares.

On the downside, Google Inc. (GOOG) closed down 1.64 to 702.87, but after hours was trading at 736 on earnings.

Stepping back and reviewing the hourly chart patterns, the indices were up at the opening, but then fell sharply, only to come back with a roar throughout the rest of the session, with the S&P 500 making new 5-year highs, and the Nasdaq 100 surging about 9 points in the last 10 minutes to close right near the session highs going away.

It was a good start to the week for the indices. We'll see how it goes on tomorrow.

Good Trading!


iOnTheMarket Premium


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

rss feed

Latest Stories

article imageDefensive Sectors Lead Hesitant Market, But Traders Honor Long-standing Bullish Support

Last week, the major indexes fell back below round-number thresholds that had taken a lot of effort to read on...

article imageWill Janet Yellen's Outlook Prevail?

Federal Reserve Chairwoman Janet Yellen told the crowd last week that rate hikes are coming. The rise will read on...

article image3 Deep Value Stocks That Could Mount A Turnaround

Although the market action was a bit choppy in the first quarter of 2015, one fact is inescapable: the read on...

article imageFrenzied Speculative Activity In China's Equity Markets

It's time to take another look at the recent developments in China's equity markets as major indices hover 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.