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!


iOnTheMarket Premium


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

rss feed

Latest Stories

article imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 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.