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Mixed Close To Consolidation Stock Session
By Harry Boxer | Published  04/25/2011 | Stocks | Unrated
Mixed Close To Consolidation Stock Session

The stock market indices started off on a mixed note with the Nasdaq 100 up and the Dow and S&P 500 down, but there were quite a few stocks on our board that acted very well.

Net on the day, the Dow was down 26.11 at 12,479.88, the S&P 500 down 2.13 at 1335.25, and the Nasdaq 100 up 6.42 at 2383.72.

Advance declines were about 16 1/2 to 14 negative on the New York Stock Exchange and about 14 to 12 negative on Nasdaq. Up/down volume was about 3 to 2 negative on New York with total volume of a very light 700 million. Nasdaq traded less than 1.5 billion and had a 9 to 5 positive ratio.

TheTechTrader.com board had an actually excellent day. Leading the way, Travelzoo Inc. (TZOO) was up another 6.78 to 101.00, reaching as high as 103.08. Molycorp, Inc. (MCP) was up 4.84 to 73.08, Apple Inc. (AAPL) 2.31 to 353.01, and SodaStream International Ltd. (SODA), one of our favorites, up 3.66 to 47.19 today. Ultratech, Inc. (UTEK), one of our swing trade portfolio stocks, gained 3.24 to 32.38, E-Commerce China Dangdang Inc. (DANG) 1.46 to 25.46, and Changyou.com Limited (CYOU) 3.58 to 43.36.

Also, some of the low-priced stocks did well today. Repros Therapeutics Inc. (RPRX) was up 61 cents to 5.86, and ACADIA Pharmaceuticals, Inc. (ACAD) up 49 cents to 2.73.

In addition, swing trade portfolio position Silicon Motion Technology Corp. (SIMO) was up 1.15 to 11.10. Velti Plc (VELT) jumped 76 cents to 16.64, VirnetX Holding Corp (VHC) 1.46 to 26.62, Rare Element Resources Ltd. (REE) 75 cents to 14.41, Sify Technologies Limited (SIFY) 39 cents to 6.84, and Avalon Rare Metals Inc. (AVL) up just 8 cents to 9.40, as a secondary put pressure on that one today.

Other stocks of note included LSB Industries Inc. (LXU), up 42 cents to 40.49, a new all-time high, getting as high as 41.03, and OmniVision Technologies Inc. (OVTI), up 78 cents to 33.33.

On the downside, The Goldman Sachs Group, Inc. (GS) was down 1.32 to 152.19, Amarin Corporation plc (AMRN) 82 cents to 16.10, and Amazon.com Inc. (AMZN) 47 cents to 185.42, but Chipotle Mexican Grill, Inc. (CMG) was the big loser, down 4.65 to 272.65.

Stepping back and reviewing the hourly chart patterns, the indices were up early, backed off to hold support, rallied midday, and then backed and filled in the afternoon, but nevertheless ended mixed on the day to start the week.

Perhaps it was a consolidation day. We’ll see how it goes tomorrow to see if it follows through either way.

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com.