Harry Boxer
The Technical Trader
The stock market indices started off with a bang, except the Dow, which was dampened all day by the negative report on International Business Machines Corporation (IBM) component that really knocked it down. It managed to finally gain at the end of the day and finished in the plus column.
Net on the day, the Dow was up 19.26 at 16,399.67. The S&P 500 was up 17.25 at 1904.01. The Nasdaq 100 was up 54.61 at 2870.08.
So, it was a big day for the major indices.
Advance-declines were 23 to 8 positive on the New York Stock Exchange, and 9 to 4 positive on Nasdaq. Up/down volume was 3 to 1 positive on New York, with total volume of 3 1/4 billion shares. That might be a record volume. Nasdaq traded 1 2/3 billion shares, and had a 6 to 1 positive volume ratio.
TheTechTrader.com board had a very good day today. Priceline.com Incorporated (PCLN) was up 25.80 to 1103.07, Google Inc. (GOOG) up 9.67 to 520.84, Apple Inc. (AAPL) up 2.09 to 99.76, Amazon.com Inc. (AMZN) 2.57 to 306.21, and Netflix, Inc. (NFLX) 2.13 to 359.22.
Pharmacyclics Inc. (PCYC) snapped back 2.62 to 114.83, Tesla Motors, Inc. (TSLA) ran 2.99 to 230.47, and Vipshop Holdings Limited (VIPS) gained 4.09 to 195.99.
SolarCity Corporation (SCTY) was up 2.41 to 53.92, GoPro, Inc. (GPRO) up 1.37 to 76.00, MOBILEYE N.V. (MBLY) up 2.18 to 49.80, Royal Gold, Inc. (RGLD) 1.65 to 69.04, and NewLink Genetics Corporation (NLNK) 2.09 to 31.44, reaching as high as 39 1/2 pre-market.
On the downside, International Business Machines Corporation (IBM) was the big loser, down 12.95 to 169.10.
Checking the TheTechTrader.com percent-gain leaderboard, NQ Mobile Inc. (NQ) climbed 86 cents to 9.26, or 10%, on 6.5 million shares.
SinoCoking Coal and Coke Chemical Industries, Inc. (SCOK) had an excellent day, up 1.39 to 3.74, or 59%, on 28.4 million shares, reaching 4.44 earlier in the day. Vitae Pharmaceuticals, Inc. (VTAE) gained 1.31 to 7.61, or 21%. ShoreTel, Inc. (SHOR) ran 1.11 to 7.62, or 17%, on 4.6 million shares, on a $10 takeover that they rejected. ImmunoGen, Inc. (IMGN) popped 1.16 to 9.46, or 14%, on 2.2 million shares.
ITT Educational Services Inc. (ESI) thrust to 13.98, before it pulled back to 12.68, up 3.49, or 40%, on 8.1 million shares. Sears Holdings Corporation (SHLD) climbed 6.55 to 34.96, or 23%, on 4.1 million shares, after reaching as high as 37.13. SuperCom Ltd. (SPCB) advanced 1.34 to 11.56, or 13%. TubeMogul, Inc. (TUBE) closed up 1.51 to 12.99, or 13%.
Among other gainers, TerraForm Power, Inc. (TERP) was up 2.82 5o 27.77, NPS Pharmaceuticals, Inc. (NPSP) up 2.29 to 28.45, Emerge Energy Services LP (EMES) 7.29 to 96.94, and Valeant Pharmaceuticals International, Inc. (VRX), which we traded today, 4.57 to 124.78.
BlackBerry Limited (BBRY), on takeover talks, bounced 81 cents to 10.30.
Stepping back and reviewing the hourly chart patterns, the indices were up from the get-go, were in rising channels all day, with minor pullbacks. It was a very strong session for everything but the Dow 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
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.