Harry Boxer
The Technical Trader
The stock market indices suffered a dramatic decline today, and got hit hard. Only a last-hour rally brought them back from the abyss.
Net on the day, the Dow was down 190.48 at 18,041.54. The S&P 500, which dipped under 2100, closed down 21.86 at 2104.20. The Nasdaq 100 at one point was at 4456, down 68 points, managed to bounce 16 points, but still closed down 54.20 at 4472.96.
Advance-declines were 4 to 1 negative on New York Stock Exchange and 3 to 1 negative on Nasdaq. Up/down volume was 7 to 1 negative on New York, with total volume of 3 1/4 billion shares. Nasdaq traded 1.5 billion shares, and had about 4 to 1 negative volume ratio.
TheTechTrader.com board was blood red. Priceline.com Incorporated (PCLN) was down 12.72 to 1195.78, Google Inc. (GOOG) down 7.79 to 532.32, Apple Inc. (AAPL) .92 to 129.62, Amazon.com Inc. (AMZN) 2.16 to 425.47, and Netflix, Inc. (NFLX) 5.92 to 615.95.
Tesla Motors, Inc. (TSLA) lost just 27 cents to 247.46, Microsoft Corporation (MSFT) gave back 31 cents to 46.59, and Intel Corporation (INTC) was off 35 cents to 33.10.
First Solar, Inc. (FSLR) was down 4.01 to 51.06, Cheetah Mobile Inc. (CMCM) down 1.20 to 32.26, Cyber-Ark Software Ltd. (CYBR) 1.04 to 62.50, and Esperion Therapeutics, Inc. (ESPR) 4.19 to 103.75.
In addition, GoPro, Inc. (GPRO) lost 1.03 to 53.41, SolarCity Corporation (SCTY) dropped 1.26 to 61.33, and Facebook, Inc. (FB) gave back 1.21 to 79.33.
A few gainers on our board included Actinium Pharmaceuticals, Inc. (ATNM), which led the way today, up 85 cents to 3.74, or 30%, on 10.2 million shares, an all-time record volume. NeoPhotonics Corporation (NPTN) gained 46 cents to 7.84, and FireEye, Inc. (FEYE), up 9 cents at the close to 45.16, however, after hours it went lower.
Checking the TheTechTrader.com percent-gain leaderboard, Oncothyreon Inc (ONTY) ran 48 cents to 3.49, or 16%, on 22 million shares. McDermott International Inc. (MDR), on an offshore contract, advanced 61 cents to 5.28, or 13%, on 13 million shares.
Cleveland BioLabs, Inc. (CBLI) gained 1.32 to 3.25, or 68%, on 2.7 million shares, with a late, strong surge of about 50%, on the last 30-40 minutes. Vascular Biogenics Ltd. (VBLT) climbed 2.10 to 7.35, or 40%, on 9.3 million shares.
Among other gainers, LivePerson Inc. (LPSN), on takeover talk, was up 1.22 to 10.16, Applied Optoelectronics, Inc. (AAOI) up 2.51 to 19.18, and ChinaCache International Holdings Ltd. (CCIH) 1.28 to 15.00.
The Direxion Daily Gold Miners Bear 3X Shrs (DUST) closed up 1.22 to 14.72, the Direxion Daily Jr Gld Mnrs Bear 3X ETF (JDST) up 60 cents to 7.72, and the ProShares Ultra VIX Short-Term Fut ETF (UVXY) 3.06 to 42.18.
Stepping back and reviewing the hourly chart patterns, the indices gapped down, and went down very sharply, until midmorning when they tried to bounce, and then they went lower, but within an hour to go they went to session lows, only to snap back into the close.
Let's see how it goes tomorrow.
Good Trading!
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