Stock Market Rally Rolls On |
By Harry Boxer |
Published
04/14/2010
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Stocks
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Unrated
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Stock Market Rally Rolls On
The stock market indices opened strong today, consolidated early on and then moved higher the rest of the session, closing near the session highs and 2010 highs going away.
Net on the day, the Dow was up 103.69 at 11,123.11, the S&P 500 up 13.35 at 1210.65, and the Nasdaq 100 up 25.01 at 2028.82.
Advance-declines were better than 3 1/2 to 1 positive on the New York Stock Exchange and 4 to 1 positive on Nasdaq. Total volume on New York was 6.35 billion and Nasdaq traded over 3 billion.
TheTechTrader.com board was mostly all higher with quite a few point-plus gainers today. Leading the way was ADTRAN Inc. (ADTN), up 2.08 to 29.40 on 4.35 million. Other point-plus gainers were Rambus Inc. (RMBS), up 1.60 to 23.41 on 7 1/2 million shares, and Kulicke & Soffa Industries Inc. (KLIC), up 1.51 at 9.37 on 12.3 million. Hot Topic Inc. (HOTT) gained 1.10 to 9.58 on 14 1/2 million today.
In addition, Entegris, Inc. (ENTG) advanced 1 to 5.94 on 7 million shares, and Encorium Group (ENCO) 1.03 to 4.10 on 2.3 million.
Other large fractional gainers of note: RINO International (RINO) jumped 68 cents to 20.21, Pharmacyclics (PCYC) 47 cents to 8.46, Mindspeed Technologies (MSPD) 42 cents to 9.26, and L&L Energy (LLEN) 51 cents to 12.67.
Integrated Silicon Solutions (ISSI) was up 49 cents to 11.45, Houston American Energy Corp. (HUSA) 76 cents to 13.69, Finisar (FNSR) 49 cents to 16.91, Crocs Inc. (CROX) 76 cents to 10.55, Brigham Exploration (BEXP) 47 cents to 18.63, China Automotive (CAAS) 47 cents to 22.04, and Acme Packet, Inc. (APKT) 62 cents to 20.08.
The only point-plus loser on our board today was China Agritech (CAGC), which continues under pressure and lost 1.70 to 19 even today.
The Direxion Daily Financial Bear 3x (FAZ) lost 90 cents to 10.90, a new all-time low, and the Direxion Daily Large Cap Bear 3x (BGZ) lost 44 cents to 12.50.
Stepping back and reviewing the hourly chart patterns, the indices gapped up and consolidated early on, moved sharply higher, pulled back mid-day, but flagged late in the session and exploded into the close for a very sharp extension of the rally, and the rally rolls on.
Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com.
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