Harry Boxer
The Technical Trader
The stock market indices started off with a bang today as they gapped up, pulled back slightly, and then ran to the session highs before noon, reaching over 3920 Nasdaq 100, and 1945 on the S&P 500, a new rally-back high.
Net on the day, the Dow was up 16.05 at 16,569.98, about 58 points off the high. The S&P 500 was up 5.33 at 1936.92, 8 points off the high. The Nasdaq was up 22.37 at 3910.46, 11 points off its high.
Advance-declines were nearly 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on Nasdaq. Up/down volume was just under 3 to 1 positive on New York, with total volume of 585 million shares. Nasdaq traded 1.48 billion shares, and had a 4 to 1 positive volume ratio.
TheTechTrader.com was mixed, but there were a lot of stocks in the green today. Priceline.com Incorporated (PCLN) was up 27.78 to 1309.34, but Google Inc. (GOOG) lost 89 cents to 567.88. Apple Inc. (AAPL) was up 1.24 to 95.98, Amazon.com Inc. (AMZN) 1.52 to 318.32, and Netflix, Inc. (NFLX) 5.69 to 451.54.
Pharmacyclics Inc. (PCYC) gained 1.90 to 119.36, Tesla Motors, Inc. (TSLA) exploded 11.19 to 259.32, and Vipshop Holdings Limited (VIPS) ran 9.05 to 216.49.
First Solar, Inc. (FSLR) was up 1.34 to 69.17, InterMune Inc. (ITMN) up 1.63 to 44.71, and MOBILEYE N.V. (MBLY) 1.34 to 33.69.
Checking the TheTechTrader.com percent-gain leaderboard, PharmAthene, Inc. (PIP) popped 54 cents to 1.80, or 43%, on 6.7 million shares. Biostar Pharmaceuticals, Inc. (BSPM) bounced 35 cents to 1.59, or 28%, on 1.5 million shares.
China HGS Real Estate Inc. (HGSH) ran up 87 cents to 4.04, or 28%, on 1.3 million shares.
Tekmira Pharmaceuticals Corp. (TKMR), on an FDA announcement over Ebola Drug, jumped 3.10 to 23.80, or 15%, on 28.4 million shares, and traded as high as 26.05.
Among other gainers, SouFun Holdings Ltd. (SFUN) was up 1.25 to 12.52, Bitauto Holdings Limited (BITA) up 6.22 to 68.99, Krispy Kreme Doughnuts, Inc. (KKD) 1.32 to 16.86, Cheetah Mobile Inc. (CMCM) 2.73 to 26.75, Zendesk, Inc. (ZEN) 1.63 to 22.92, Tata Motors Limited (TTM) 2.87 to 41.11, and 21Vianet Group, Inc. (VNET) 2.05 to 29.87.
Sarepta Therapeutics, Inc. (SRPT) jumped 1.56 to 22.66, GW Pharmaceuticals (GWPH) advanced 6.45 to 89.22, Nimble Storage, Inc. (NMBL) gained 1.68 to 28.05, and SolarCity Corporation (SCTY) climbed 3.26 to 73.40.
Stepping back and reviewing the hourly chart patterns, the indices were up sharply in the morning, rolled over into midday and early afternoon, bounced late in the session, and then pulled back near the close, only with small gains on the blue chips, but the NDX had a good day today.
Let's see what happens tomorrow.
Good Trading!
In using any portion of The Technical Trader, you agree to the Terms and Conditions governing the use of the service as described in this disclaimer. Our disclaimers, policies and terms are subject to change without notice. The Technical Trader (www.thetechtrader.com) is published by Century-Pacific Investments and AdviceTrade, Inc., both of which are publishers. The Web site is maintained by Codexia, LLC. None of these firms, nor Mr. Boxer, is registered as a broker-dealer or investment adviser either with the U.S. Securities and Exchange Commission or with any state securities authority. Each trade mentioned in the diary and other sections of The Technical Trader is hypothetical and is not an actual trade. Mr. Boxer and employees of Century-Pacific, AdviceTrade and Codexia are not allowed to have personal positions in stocks mentioned in the diary and other sections of The Technical Trader. This policy, first announced to subscribers on June 2, 2004, gave Mr. Boxer a deadline that was extended to July 30, 2004 for liquidating any existing personal holdings in stocks mentioned on the site. Our holdings page, in which Mr. Boxer listed his personal positions in stocks mentioned on the site, was removed at that time. The publishers are not permitted to have any financial relationship with companies mentioned on the site. Mr. Boxer may recommend trades of stocks mentioned in the Diary as a consultant to hedge funds, but has agreed not to make such recommendations until after the stock has been posted on The Technical Trader Web site. Mr. Boxer's commentaries, trading ideas and model trades represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Neither we nor Mr. Boxer claim to have any non-public information regarding the companies mentioned in this site. The trade prices that appear on this Web site are based on the average of the real-time bid and real-time ask prices provided by Money.net, except when entered manually by Mr. Boxer should Money.net's feed be temporarily down. There may be a delay between the price as it appears in the diary and the current price that you see from your terminal due to delays in Internet connectivity, quote delays, refresh intervals in the case of the Web-based diary page, data entry errors, and market conditions, and also due to times when Mr. Boxer is not available to make the trade at the moment a previously stated target has been met. Entries may at times be in error due to system or data-entry errors. Hypothetical performance results do not include trading commissions and other execution costs that would be incurred if the trades referenced in the diary or elsewhere on the site were actual trades. Past performance is no guarantee of future results.
Recommended Content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.