Harry Boxer
The Technical Trader
The stock market indices had another up day, but it was very choppy. The day started out with a little pop to the upside, then they came down hard after the economic reports, and they were good. They then roared back to new highs, the S&P 500 reaching over 1992, and the Nasdaq 100 over 4048, and then pulled back into the noon hour. In the afternoon they tried to rally again, getting new all-time highs on the S&P 500 just under 1995, but the Nasdaq 100 could not even take out the morning highs. They backed off, only to bounce in the last five minutes, and finished firm on the day.
Net on the day, the Dow was up 60.43 at 17,039.56. The S&P 500 was up 5.87 at 1992.38. The Nasdaq 100 was up 6.32 at 4047.03.
Advance-declines were almost exactly 3 to 2 positive on the New York Stock Exchange, and 5 to 6 positive on Nasdaq. Up/down volume was 3 to 2 positive on New York, with total volume of 558 million shares. Nasdaq traded 1.4 billion shares, and had a 4 to 3 positive volume ratio.
TheTechTrader.com board was mostly mixed today. A lot of stocks were red or slightly negative on our board today. Priceline.com Incorporated (PCLN) was down a whopping 8.32 to 1265.05, Google Inc. (GOOG) down 1.12 to 583.37, Amazon.com Inc. (AMZN) down 2.87 to 332.91, and Netflix, Inc. (NFLX) 14 cents to 472.05. Apple Inc. (AAPL) was the only one of the large-cap stocks that we follow that was up today, by 1 cent. Yes, .01 to 100.58.
Pharmacyclics Inc. (PCYC) lost 1.86 to 118.54, Tesla Motors, Inc. (TSLA) dropped 1.37 to 254.34, and Vipshop Holdings Limited (VIPS) lost 1.81 to 214.10.
The only two stocks that were up more than a point on our board today were MOBILEYE N.V. (MBLY), which was a standout today, up 1.19 to 38.07, and International Business Machines Corporation (IBM) reached 1.13 to 191.23.
Checking the TheTechTrader.com percent-gain leaderboard, there were some outstanding winners today. EveryWare Global, Inc. (EVRY) had an early morning spike up to 2.99 after agreeing to sell its U.K. business, before pulling back and closing up 50 cents to 2.56, or 24%, on 3.7 million shares. China HGS Real Estate Inc. (HGSH), a Chinese real estate company, after making their first shanty-area rebuilding agreement, ran 90 cents to 5.60, or 19%, on 1.6 million shares, but traded as high as 6.30.
Digital Ally Inc. (DGLY) soared today after announcing earnings in the morning, up 1.21 to 7.01, or 21%, on 7.4 million shares, and reaching as high as 8.00 even. It had a bad dip in the morning, but then it popped and stayed up for most of the afternoon, rolled over around two o'clock to trade at 6.60, but closed at 7.01.
China Mobile Games and Entertainment Group Limited (CMGE), after announcing a new CEO, climbed steadily up all day and closed at the high for the day, up 2.59 to 18.48, or 16%, on 1.4 million shares. We traded that one today. Bon-Ton Stores Inc. (BONT), after announcing second quarter earnings, also moved up steadily all day, up 1.16 to 10.21, or 13%, on 1.2 million shares. TrueCar, Inc. (TRUE), a new issue, was down around 16.90 all morning, and then right after the noon hour, it spiked up, rolled over, bounced, rolled over again, before making its way up 1.68 to 18.73, or 10%, on 1.1 million shares.
Among other gainers, Flamel Technologies SA (FLML), which we issued a new swing trade on today, was up 1.18 to 15.78, The Children's Place, Inc. (PLCE) up 3.93 to 54.38, iDreamSky Technology Limited (DSKY), a new issue, up 1.53 to 21.49, Sunshi, ne Heart Inc. (SSH) 1.54 to 22.98, Hewlett-Packard Company (HPQ), one of our swing trades, 1.88 to 37.00 even, Semtech Corporation (SMTC) 1.15 to 25.15, and eBay Inc. (EBAY) 2.49 to 55.89.
The Direxion Daily Gold Miners Bear 3X Shrs (DUST) popped 1.01 to 16.37. Gogo Inc. (GOGO), on rumors of a takeover by Verizon today, popped 96 cents to 17.74.
China Finance Online Co., Ltd. (JRJC) roared from this morning's pullback low, which we traded around 9.35, and it got as high as 11.88, before rolling over in the afternoon and closing up 57 cents to 9.74, 35 million shares, so that was a big reversal.
Stepping back and reviewing the hourly chart patterns, the indices were choppy, they were volatile, but they ended up on the plus side for sure, not far off the highs for the day. Only a late pullback prevented them from do so.
Let's see what happens tomorrow.
Good Trading!
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