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Stock Market Great Start to the Week

Stock-Markets / Stock Markets 2015 Apr 07, 2015 - 12:17 PM GMT

By: Harry_Boxer

Stock-Markets

The stock market indices started the day out with a plunge to the downside on heavy negative futures, but they immediately reversed, taking the Nasdaq 100 from 4284 to 4361, a very strong 77-point rally,. They consolidated in the afternoon, and then rolled over into the close to take back a chunk of the gains. The S&P 500 jumped from a low of 2020 to 2087, 31 points, and backed off to 2080.

Net on the day, the Dow was up 117.61 at 17,880.85, reaching as high as 17.941.79. The S&P 500 was up 13.66 at 2080.62. The Nasdaq 100 was up 34.97 at 4350.98.


Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 9 to 6 positive on Nasdaq. Up/down volume was 3 1/2 to 1 positive on New York, with total volume of 3 billion shares. Nasdaq traded 1.5 billion shares, and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was mostly positive. Some of the big-cap stocks did well today. Leading the way was Priceline.com Incorporated (PCLN) up 24.57 to 1185.01, Google Inc. (GOOG) up 1.23 to 536.77, Apple Inc. (AAPL) up 2.03 to 127.35, Amazon.com Inc. (AMZN) 4.79 to 37704, and Netflix, Inc. (NFLX) a whopping 8.23 to 422.31.

Tesla Motors, Inc. (TSLA) exploded 12.10 to 203.10, or 6%, on 12.4 million shares, on earnings.

GoPro, Inc. (GPRO) was up 1.59 to 43.55, Cyber-Ark Software Ltd. (CYBR) up 1.17 to 54.98, and Royal Gold, Inc. (RGLD), in a strong gold sector, 1.30 to 65.99.

To the downside, there were no stocks down as much as a point on our board today.

Checking the TheTechTrader.com percent-gain leaderboard, Voltari Corporation (VLTC) was the leader today, up 1.80 to 4.43, or 68%, on 15.6 million shares, 9100% more volume than average, reaching a high of 4.73.

uniQure (QURE) advanced 10.75 to 33.61, or 47%, on 2.65 million shares.

Oil was a rock star today as the oil stocks and ETF's did well. Low-priced Seventy Seven Energy Inc. (SSE) climbed 84 cents to 4.66, or 22%, on 4.3 million shares. Rex Energy Corporation (REXX) advanced 53 cents to 4.38, or 14%, on 3.7 million shares. W&T Offshore Inc. (WTI) ran 55 cents to 5.90, or 10%, on 2.8 million shares.

Other stocks in the energy group include Oasis Petroleum Inc. (OAS), one of our favorites, up 1.71 to 16.65, or 11%, on 10.7 million shares. Matador Resources Company (MTDR) popped 2.41 to 25.54, or 10%, on 2 million shares. Sanchez Energy Corporation (SN) gained 1.05 to 14.43, or 8%, on 1.7 million shares. C&J Energy Services, Inc. (CJES) climbed 1.46 to 12.83, or 13%, on 3.6 million shares.

Gold was strong today. The Direxion Daily Jr Gold Miners Bull 3X Shares (JNUG) ran 2.77 to 21.81, and the ETF Direxion Daily Gold Miners Bull 3X Shares (NUGT) advanced 1.16 to 11.71.

Stepping back and reviewing the hourly chart patterns, after a gap opening on the payroll on Friday, the indices rallied sharply, taking the Nasdaq 100 sharply off the lows to midday highs. They then pulled back, consolidated, and rolled over into the close. In the last 10-15 minutes they gave back a chunk of their gains, but still had a positive finish and a good start to the week.

Good Trading!

Harry

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Mr. Boxer's commentaries and index analysis 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. Trades mentioned on the site are hypothetical, not actual, positions.

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