Harry Boxer
The Technical Trader
The stock market indices started the week with an up-day, closing near the session highs. The day started out choppy, particularly in the morning when they opened firm, pulled back, popped, made new morning highs, and then pulled back sharply. The Nasdaq 100 dropped from 3555 to 3526, and the S&P 500 went from 1871 to 1863. They came back strong, and had a nice afternoon run that took them to the session highs, right at 3560 on the Nasdaq 100, and 1872 on the S&P 500. They backed off with a half hour to go, and then came on at the close, closing strong on the session.
Net on the day, the Dow was up 40.71 at 16,449.25. The S&P 500 was up 7.04 at 1871.89, at the highs for the day. The Nasdaq 100 was up 25.42 at 3559.95, also at the highs for the day.
Advance-declines were better than 3 to 2 positive on the New York Stock Exchange, and 3 to 2 positive on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 592 million shares. Nasdaq traded 1.5 billion shares and had a more that 2 to 1 positive volume ratio.
TheTechTrader.com board was led by priceline.com Incorporated (PCLN) up 12.68 to 1221.04, Apple Inc. (AAPL) up 6.23 to 531.17,Amazon.com Inc. (AMZN) 5.96 to 330.87, Netflix, Inc. (NFLX) 2.74 to 348.49, International Business Machines Corporation (IBM) 2.26 to 192.27, and Goldman Sachs Group, Inc. (GS) up only 36 cents to 157.80.
Tesla Motors, Inc. (TSLA) jumped 6.26 to 204.38, and Vipshop Holdings Limited (VIPS) ran 71 cents to 149.44.
Sarepta Therapeutics, Inc. (SRPT) exploded 9.58 to 33.98, and was as high as 45 in aftermarket. Maxwell Technologies, Inc. (MXWL), a current swing trade and favorite of ours, blasted 1.70 to 15.83, reaching as high as 16.09, or 12%, on 2.7 million shares. Amazing day for both of those stocks.
Facebook, Inc. (FB) jumped 2.30 to 61.24 and Twitter, Inc. gained 1.12 to 46.13.
On the downside, Google Inc. (GOOG) had a very bad day, down 7.48 to 528.62.
Checking the TheTechTrader.com percent-gain leaderboard, Aastrom Biosciences, Inc. (ASTM) popped 88 cents to 4.40, or 25%, on 2.5 million shares. IGI, Laboratories, Inc. (IG) bounced 64 cents to 4.76, or 16%. Synthetic Biologics Inc. (SYN) gained 36 cents to 2.88, or 14%, on 1.2 million shares. Regado Biosciences, Inc. (RGDO) advanced 85 cents to 7.15, or 14%, on 1 million shares. Advanced Micro Devices, Inc. (AMD) climbed 43 cents to 4.12, or 12%, on 102 million shares.
ANI Pharmaceuticals, Inc. (ANIP), a strong biotech stock, snapped back 5.28 to 30.83, or 21%. Cytokinetics, Incorporated (CYTK) thrust 1.28 to 10.80, or 13 1/2%, on 2.5 million shares.
Other stocks of note include Tekmira Pharmaceuticals Corp. (TKMR), 1.59 to 14.64, AstraZeneca PLC (AZN) on merger rumors, up 5.61 to 69.10, and STAAR Surgical Company (STAA) 1.65 to 19.15, watt (WATT) 1.03 to 12.33 rounded out the gainers today.
Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, down midmorning, right back up and sharply so for the rest of the session, until the last hour when they dipped, but snapped back, closing with solid gains for the day.
Let's see how it goes tomorrow.
Good Trading!
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