Harry Boxer
The Technical Trader
The stock market indices ended Option Expiration Day on a positive note. The day started out with huge gaps up, and then reaching the highs for the day. They sold off and filled the gaps, but managed to hold right near yesterday's lows, before bouncing into the close, and finishing the session in the plus column.
Net on the day, the Dow ran as high as 17.894.83 before pulling back to close up 91.06 at 17,810.06, 84 points off the high. The S&P 500 was up 10.75 at 2063.50, 8 points off the high. The Nasdaq 100 was up only 9.23 at 4251.32, 32 points off the high, but it even got into the red but closed positive.
Advance-declines were 2 to 1 positive on the New York Stock Exchange, and just 160 issues higher on Nasdaq. Up/down volume was almost 4 to 1 positive on New York, with total volume of 3 billion shares. Nasdaq traded 1.8 billion shares, and had a 5 to 4 positive volume ratio.
TheTechTrader.com board a lot of stocks finished marginally. On the plus side, Google Inc. (GOOG) was up 2.67 to 537.50, Apple Inc. (AAPL) up just 16 cents to 116.47, and Amazon.com Inc. (AMZN) 2.09 to 332.63.
Pharmacyclics Inc. (PCYC) ran 1.81 to 140.33, and Vipshop Holdings Limited (VIPS) closed flat at 22.68.
JinkoSolar Holding Co. was outstanding today up 2.23 to 25.09, SolarCity Corporation (SCTY) up 1.42 to 55.05, NewLink Genetics Corporation (NLNK), one of our swing trades, was up 1.81 to 35.33, Agios Pharmaceuticals, Inc. (AGIO) 1.83 to 94.84, and Splunk, Inc. (SPLK) 2.00 to 66.94.
On the downside, Priceline.com Incorporated (PCLN) lost 2.42 to 1151.46, and Netflix, Inc. (NFLX) gave back a whopping 7.86 to 360.28.
Tesla Motors, Inc. (TSLA) was down 5.93 to 242.78, GoPro, Inc. (GPRO) down 1.02 to 70.72, and Arista Networks, Inc. (ANET) 1.03 to 74.15.
Checking the TheTechTrader.com percent-gain leaderboard, low-priced Can-Fite BioPharma Ltd. (CANF), the percent-gain leader, on a breakthrough drug, ran 80 cents to 4.80, or 20%, on 7.1 million shares, or 3500% more volume than average, after reaching as high as 5.76. EDAP TMS SA (EDAP) gained 35 cents to 2.33, or 14%, on 1.9 million shares. Geron Corporation (GERN), a biotech firm, thrust 45 cents to 3.70, or 14%, on 18.3 million shares.
E-House (China) Holdings Limited (EJ), which is running on interest-rate news in China, closed just two cents off its high, up 1.45 to 9.88, or 17%, on 5 million shares. SouFun Holdings Ltd. (SFUN), another Chinese stock, ran 1.10 to 8.99, or 14%, on 12.7 million shares. Cliffs Natural Resources Inc. (CLF) climbed 1.15 to 9.91, or 13%, on 18.6 million shares.
Natural Grocers by Vitamin Cottage, Inc. (NGVC) jumped 3.80 to 23.15, or 20%. Petr (PBR) worked its way up 1.13 to 10.84, or 12%, on 76 million shares.
Among other gainers, Ross Stores Inc. (ROST) was up 6.09 to 89.30, Exact Sciences Corporation (EXAS) up 1.49 to 23.98, and Autodesk, Inc. (ADSK) 3.54 to 61.95.
Stepping back and reviewing the hourly chart patterns, the indices had big gaps up to new all-time highs. They pulled back sharply, backed and filled, slightly firming up, especially on the S&P 500, and closed positive on the session, but way off the highs. We'll have to wait to see if that was significant and what kind of follow-through we get next week.
Have a nice weekend!
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