Harry Boxer
The Technical Trader
The stock market indices had another fantastic day as they exploded from the get-go. They ran sharply, especially the S&P 500 in the morning, and then the Nasdaq 100 played catch-up with Apple reaching within seven cents of its all-time high. That certainly helped lead the way.
Net on the day, the Dow was up 80.85 at 16,919.59. The S&P 500 was up 9.86 at 1981.60. The Nasdaq 100 was up 19.64 at 4040.13.
TheTechTrader.com board was solid today with Priceline.com Incorporated (PCLN) up 4.40 to 1271.78, Google Inc. (GOOG) up 4.70 to 586.86, Apple Inc. (AAPL) 100.53, up 1.37 on 66.5 million shares, Amazon.com Inc. (AMZN) 60 cents to 335.13, and Netflix, Inc. (NFLX) 2.15 to 46815.
GoPro, Inc. (GPRO) was up 1.51 to 43.36, InterMune Inc. (ITMN) up 1.22 to 54.53, and MOBILEYE N.V. (MBLY) 3.26 to 36.60.
On the downside, Pharmacyclics Inc. (PCYC) lost 1.88 to 120.01, Tesla Motors, Inc. (TSLA) dropped another 3.18 to 256.76, and Vipshop Holdings Limited (VIPS) was down 5.60 to 215.82.
SolarCity Corporation (SCTY) was down 1.26 to 70.79.
Checking the TheTechTrader.com percent-gain leaderboard, Aeropostale, Inc. (ARO) bounced 63 cents to 3.87, or 19%, on 29 million shares.
Mandalay Digital Group, Inc. (MNDL) popped 51 cents to 5.02, or 11.3%, on nearly a million shares.
Digital Ally Inc. (DGLY), the maker of digital video imaging for use in law enforcement, ran 3.43 to 7.08 or 94%, on 2.5 million shares.
TASER International Inc. (TASR), the manufacturer of electrical weapons used in law enforcement, gained 1.43 to 16.11, or 10%, on 5.3 million shares. Both had a big day today due to the riots in Ferguson.
China HGS Real Estate Inc. (HGSH) opened at 3.75, ran up to 6.84, and closed up 1.84 to 5.30, or 53%, on 4 million shares, 8000% more volume than average. DepoMed Inc. (DEPO) advanced 1.78 to 14.94, or 14% on 6.4 million shares.
Among other gainers, The TJX Companies, Inc. (TJX), which we traded today, was up 4.66 to 58.56, Imperva Inc. (IMPV), which we traded today, up 2.28 to 29.80, iDreamSky Technology Limited (DSKY), a new issue, 1.55 to 20.02, Arista Networks, Inc. (ANET) 4.49 to 75.00, The Home Depot, Inc. (HD) 4.64 to 88.23.
F5 Networks, Inc. (FFIV) thrust 3.45 to 120.02, and Cavium, Inc. (CAVM) closed up 2.26 to 54.81.
Pixelworks, Inc. was up 52 cents to 6.60, Achillion Pharmaceuticals, Inc. (ACHN) up 33 cents to 9.87, Maxwell Technologies, Inc. (MXWL) 48 cents to 9.89, BioDelivery Sciences International, Inc. (BDSI) 62 cents to 14.01, Trina Solar Limited (TSL) 61 cents to 13.06.
VelocityShares 3x Long Natural Gas ETN (UGAZ), which we traded today, jumped 90 cents to 14.76.
Stepping back and reviewing the hourly chart patterns, the indices gapped up in the morning, backed and filled on the NDX as the S&P 500 made higher highs. Around midday they both broke out and extended the gains all session to a rising channel.
It was a solid session at the end of the day, and decent technicals, although the volume was somewhat lower today, but we attribute that to it being August.
Let's see what happens tomorrow.
Good Trading!
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