Harry Boxer
The Technical Trader
Wall Street had a big day early on today as the stock market exploded to new all-time highs at 2074 on the S&P 500, and over 4300 Nasdaq 100. The Nasdaq came down hard in the morning, bounced back in the afternoon, and sold off into the close, closing slightly lower.
Net on the day, the Dow was down 2.96 at 17,814.94. The S&P 500 was down 2.38 at 2067.03. The Nasdaq 100 was up 3.81 at 4288.23, reaching over 4300 at 4302.44, but still it was 14 points off its high.
Advance-declines were 8 to 7 positive on the New York Stock Exchange, and slightly negative on Nasdaq. Up/down volume was 17 to 15 negative on New York, with total volume of 3.25 billion shares. Nasdaq traded 1.6 billion shares, and had an 8 to 7 positive volume ratio.
TheTechTrader.com board was mixed, but a lot of our stocks did well today. Priceline.com Incorporated (PCLN) was up 19.03 to 1179.17, and Google Inc. (GOOG) up 1.81 to 541.08. However, Apple Inc. (AAPL) lost 1.03 to 117.60, Amazon.com Inc. (AMZN) was nearly flat, down 60 cents to 335.04, and Netflix, Inc. (NFLX) gave back a whopping 7.48 to 348.99.
Pharmacyclics Inc. (PCYC) was down 1.64 to 138.65, Vipshop Holdings Limited (VIPS) lost 74 cents to 21.98, but Tesla Motors, Inc. (TSLA) jumped 1.37 to 248.09.
GoPro, Inc. (GPRO) was up 2.17 to 74.71, Agios Pharmaceuticals, Inc. (AGIO) 1.29 to 98.03, Facebook, Inc. (FB) up 1.62 to 75.63, GW Pharmaceuticals (GWPH) 1.05 to 80.20, and Royal Gold, Inc. (RGLD) 1.06 to 70.40, and VASCO Data Security International (VDSI), one of our swing trades, 1.23 to 29.45, reaching over 30.00 at 30.15.
Lakeland Industries Inc. (LAKE), a recent swing trade of ours, was the big winner today, climbing 3.85 to 13.61, It exploded early on, ran all day, trading 8.1 million shares.
On the downside, Splunk, Inc. (SPLK) dropped 1.33 to 65.63.
Checking the TheTechTrader.com percent-gain leaderboard, Alpha Pro Tech Ltd. (APT) gained 67 cents to 3.35, or 25%, on 7.9 million shares. inoCoking Coal and Coke Chemical Industries, Inc. (SCOK) ran 66 cents to 349, or 23%, on 13.5 million shares. Blonder Tongue Laboratories Inc. (BDR) popped 28 cents to 2.50, or 13%, on 2 million shares.
Dycom Industries Inc. (DY) climbed 3.82 to 30.02, or 15%, on 1.3 million shares.
The ETF Direxion Daily Gold Miners Bull 3X Shrs (NUGT) gained 1.81 to 16.69, or 12%, on 12 million shares. The VelocityShares 3x Long Natural Gas ETN (UGAZ) thrust 1.32 to 15.92, or 9%, on 8.7 million shares.
Among other gainers, Brown Shoe Co. Inc. (BWS) was up 2.80 to 31.28, Douglas Dynamics, Inc. (PLOW) up 1.92 to 24.81, iDreamSky Technology Limited (DSKY) 1.31 to 18.22, and Qihoo 360 Technology Co. Ltd. (QIHU) 5.28 to 74.74.
Stepping back and reviewing the hourly chart patterns, after gapping up sharply, the indices reached new highs, came down sharply, bounced, recovered, went sideways, consolidated, and then backed off into the close to finish mixed on the day.
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 rises toward 1.0800 on USD weakness
EUR/USD trades in positive territory above 1.0750 in the second half of the day on Monday. The US Dollar struggles to find demand as investors reassess the Fed's rate outlook following Friday's disappointing labor market data.
GBP/USD closes in on 1.2600 as risk mood improves
Following Friday's volatile action, GBP/USD pushes higher toward 1.2600 on Monday. Soft April jobs report from the US and the improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold gathers bullish momentum, climbs above $2,320
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Addressing the crypto investor dilemma: To invest or not? Premium
Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000.
Three fundamentals for the week: Two central bank decisions and one sensitive US Premium
The Reserve Bank of Australia is set to strike a more hawkish tone, reversing its dovish shift. Policymakers at the Bank of England may open the door to a rate cut in June.