Join        Login             Stock Quote

Good Day For Wall Street Despite AAPL

 January 25, 2013 07:19 PM

The stock market indices had a very interesting day. The afternoon rally they experienced after the morning's dip created a positive day, despite AAPL dropping another 10.62 today.

The day started out with a pop to the upside. They challenged yesterday's 5-year high on the S&P 500, and then they pulled back sharply with a 50% retrace from yesterday's rally low. The Nasdaq 100 actually tripled, testing the 2727 area. When that was successful, it created an afternoon rally, which took the NDX back to the high, but couldn't get through to confirm the nominal new high on the S&P 500. They then rolled over in the last hour, but in an orderly fashion, only to snap back in the last 10 minutes on the S&P 500 to close at 1502.96, a new closing, 5-year high. The Nasdaq continues to trail, particularly the Nasdaq 100, as Apple remains under pressure, despite the midday rally that saw a snapback from 437 to 447. It stopped, and rolled over, particularly in the last 2 minutes when it got crushed on a couple million shares from 443 down to 435, only to bounce near 440 at the close, closing at 438.88, down 10.62. p>Net on the day, the Dow was up 70.65 at 13,895.98, at the high for the day. The S&P 500 was up 8.14 at 1502.96, about 30 cents off its high. The Nasdaq 100 was up 13.20 at 2736.73, 9 points off its high, but nevertheless, a decent gain with Apple's loss.

[Related -Netflix, Inc. (NFLX) Q4 Earnings Preview: What To Watch?]

Advance-declines were better than 3 to 2 positive on the New York Stock Exchange, and 13 to 11 positive on Nasdaq. Up/down volume was 3 to 1 positive on New York, with total volume of 675 million shares. Nasdaq traded nearly 1.8 billion and had a 2 to 1 positive volume ratio, with advancing volume over declining positive.

[Related -Google Inc (GOOG): Why Nest Labs Deal Is A Wakeup Call For Apple Inc.?]

TheTechTrader.com board had some big gainers today. Netflix Inc. (NFLX) was up 22.70 to 169.56, Priceline Incorporated (PCLN) up 39.27 to 718.82, and Amazon Inc. (AMZN) 10.37 to 283.99,

Green Mountain Coffee Roasters Inc. (GMCR), one of our swing trades, which we traded today, was up 2.53 to 46.31. Pharmacyclics Inc. (PCYC) rose 2.33 to 71.50, SodaStream International Ltd. (SODA) 1.48 to 53.23, Sarepta Therapeutics, Inc. (SRPT) 3.52 to 27.91, and Uni-Pixel, Inc. (UNXL) 70 cents to 14.67, reaching as high as 14.90 at one point.

There were a lot of big percentage gainers on our board today. Leading the way, Oshkosh Corporation (OSK) was up 6.50 to 41.08, or 18.8%, on 5.1 million shares. Cimatron Ltd. (CIMT) jumped 1.25 to 7.78, or 19%, on 784,826 shares, a 1300% increase in volume. OCZ Technology Group, Inc. (OCZ) gained 37 cents to 2.39, or 18%, on 10 million shares. Electronics for Imaging, Inc. (EFII) advanced 2.69 to 22.61, or 13 1/2%, on 2 million shares. Molycorp, Inc. (MCP) exploded 94 cents to 8.01, or 13%, on 51 million shares.

Terex Corp. (TEX) was up 3.62 to 32.05, Chuy's Holdings, Inc. (CHUY) up 3.15 to 28.38, Synaptics Inc. (SYNA) 3.88 to 36.43, Coherent Inc. (COHR) up 5.46 to 56.78, Cirrus Logic Inc. (CRUS) 2.71 to 29.42, Informatica Corporation (INFA) 3.26 to 36.50, and KLA-Tencor Corporation (KLAC) 4.37 to 56.34.

Swing trade Silicon Graphics International Corp. (SGI) was up 1.00 to 12.98, Deckers Outdoor Corp. (DECK) up 2.92 to 41.83, Coinstar, Inc. (CSTR) 3.35 to 52.06, Tempur-Pedic International Inc. (TPX) 2.44 to 40.79 after earnings, ResMed Inc. (RMD) 2.84 to 48.31, and Lam Research Corporation (LRCX) 2.32 to 41.84.

On the downside, Conns Inc. (CONN) dropped 1.12 to 27.74. And silver continued lower, with the VelocityShares 3x Long Silver ETN (USLV) falling another 1.30 to 27.96.

Stepping back and reviewing the hourly chart patterns, the indices opened strong, pulled back, consolidated midday, and then ran back in the afternoon to new highs on the S&P 500, pulled back just before the close, and then snapped back in the last 5 minutes to with the S&P 500 especially strong in the last 7 or 8 minutes.

We'll see how it goes next week.

Have a Nice Weekend

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.