Harry Boxer
The Technical Trader
The stock market indices had a big day today as there was no downside follow-through from yesterday's 5-wave decline. They gapped up, consolidated, and ran hard all day in rising channels. Only a little pullback on profit-taking brought them back just a tad.
Net on the day, the Dow was up 123.37 at 17,100.18, 15 points off the high. The S&P 500 was up 20.10 at 1978.22, about a point and a half off the high. The Nasdaq 100 was up 61.89 at 3939.89, or 1.5%, and 2 points off the high.
Advance-declines were 5 to 1 positive on the New York Stock Exchange, and 4 to 1 positive on Nasdaq. Up/down volume was 4 1/2, almost 5 to 1 positive on New York, with total volume of over 700 million shares. Nasdaq traded 1.7 billion shares, and had a 6 to 1 positive volume ratio.
TheTechTrader.com board was nearly all green. Priceline.com Incorporated (PCLN) led the way today, up 11.48 to 1212.85, Google Inc. (GOOG) up 21.35 to 595.08, Apple Inc. (AAPL) up 1.34 to 94.43, Amazon.com Inc. (AMZN) 6.21 to 358.66, Netflix, Inc. (NFLX) 4.81 to 444.17.
Pharmacyclics Inc. (PCYC) ran 3.29 to 94.79, Tesla Motors, Inc. (TSLA) jumped 4.62 to 220.02, and Vipshop Holdings Limited (VIPS) gained 5.71 to 198.61.
Facebook, Inc. (FB) was up 2.01 to 68.42, GoPro, Inc. (GPRO) up 1.09 to 41.43, and SolarCity Corporation (SCTY) 2.67 to 66.36.
Checking the TheTechTrader.com percent-gain leaderboard, Zhone Technologies Inc. (ZHNE) popped 82 cents to 3.56, or 30%, on 8.7 million shares. NQ Mobile Inc. (NQ) thrust 66 cents to 5.01, or 15%, on 28.6 million shares. Plug Power Inc. (PLUG) gained 45 cents to 5.03,or 10%, on 17 million shares.
New swing trade, BioFuel Energy Corp. (BIOF) exploded 1.73 to 8.78, or 24 1/2%, on 4.2 million shares, and reached as high as 9.88 before backing off.
New issue, TUBEMOGUL INC (TUBE) climbed 4.50 to 11.50, or 65%, on 3.5 million shares. Resources Connection Inc. (RECN) advanced 2.00, or 15%. Gentiva Health Services Inc. (GTIV) closed up 2.49 to 17.96, or 16%, on 1.9 million shares. Skyworks Solutions Inc. (SWKS), on earnings, exploded 6.53 to 52.87, or 14%, on 18 million shares. AcelRx Pharmaceuticals, Inc. (ACRX) jumped 1.05 to 10.04, or 12%, on 1.2 million shares.
Among other gainers, Avago Technologies Limited (AVGO) jumped 3.20 to 75.00, Petr (PBR) up 1.05 to 17.08, TriQuint Semiconductor, Inc. (TQNT) 1.04 to 17.03, Fairchild Semiconductor International Inc. (FCS) 1.19 to 16.85, and Sarepta Therapeutics, Inc. (SRPT) 1.22 to 21.89.
TASER International Inc. (TASR) bounced 86 cents to 11.36, RF Micro Devices Inc. (RFMD) closed up 62 cents to 10.27, and BioCryst Pharmaceuticals, Inc. (BCRX) popped 58 cents to 11.29.
Stepping back and reviewing the hourly chart patterns, the indices gapped up, consolidated for an hour, and took off in a rising channel all day. Only a late pullback prevented them from closing at the session highs.
It was a big day for Wall Street and a great way to close the week.
Have a nice weekend!
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