Day Trading with Hary Boxer

The stock market indices had another somewhat volatile day, and closed near the flatline again with mixed results. They are still consolidating, although the consolidation now comes above the previous points of resistance, so it could be considered positive. They had an early run in the market up to resistance, and then an afternoon dip. The morning lows held on both exchanges, and then the market snapped back to the declining topsline only to back off again in the last hour.

Net on the day, the Dow was down 7.36 at 13,164.78, but the S&P 500 was up 1.60 at 1405.53, and the Nasdaq 100 was up 7.68 at 2735.47.

Advance-declines were 19 to 11 positive on New York Stock Exchange, and 17 to 7 positive on Nasdaq. Up/down volume was better than 3 to 2 positive on New York, with total volume of a very light 490 million shares. Nasdaq traded over 1.5 billion, and had a 2 to 1 positive volume ratio.

TheTechTrader.com board was very interesting. There were a lot of gainers. The low-priced stock of the day with a big percentage gain was Impac Mortgage Holdings Inc. (IMH), up 1.95 to 4.19, or 87%, on nearly a million shares, and traded about 70 cents higher during the day. Renewable Energy Group, Inc. (REGI) gained 1.28 to 5.98, or 27%, on 741,000 shares.

Cellcom Israel Ltd. (CEL) advanced 84 cents to 7.45, or 13%, on 2.9 million shares. Sarepta Therapeutics, Inc. (SRPT) gained 78 cents to 9.29, or 9%, on 3.9 million shares, but got as high as 10.78 earlier in the day. Alpha & Omega Semiconductor, Ltd. (AOSL) jumped 1.63 to 10.34, or 19%, on 352,000, which is good volume for that stock.

Sprint Nextel Corp. (S) ran up 40 cents to 5.39, or 8%, on a whopping 137 million shares.

In addition, Photronics Inc. (PLAB) was up 61 cents to 6.33, Silica Holdings, Inc. (SLCA) up 1.25 to 11.82, Abercrombie & Fitch Co. (ANF) 2.90 to 35.23, Tronox Incorporated (TROX) 2.33 to 24.95, Rentech Nitrogen (RNF) 1.91 to 33.72, Pegasystems Inc. (PEGA) 1.70 to 27.57, and Hill-Rom Holdings, Inc. (HRC) 1.43 to 27.70.

Movado Group, Inc. (MOV) gained 1.60 to 27.87, Green Mountain Coffee Roasters Inc. (GMCR) 1.26 to 24.11, VimpelCom Ltd. (VIP) 82 cents to 10.20, and Immunogen Inc. (IMGN) 90 cents to 13.95.

Unisys Corporation (UIS) was up 1.09 to 20.47, Sourcefire, Inc. (FIRE) up 2.62 to 49.45, Pharmacyclics Inc. (PCYC) 1.52. 60.66, SolarWinds, Inc. (SWI) 1.22 to 55.76, and Ellie Mae, Inc. (ELLI) 1.17 to 26.98.

Large-cap Nasdaq 100 stocks were narrowly changed. Apple Inc. (AAPL) was down just 86 cents to 630.83, and Google Inc. (GOOG) dropped 1.12 to 667.54. Amazon.com Inc. (AMZN) was up 4.23 to 237.42.

On the downside, the only stock down a point or more on our board today was Onyx Pharmaceuticals, Inc. (ONXX), down 1.52 to 70.68.

Stepping back and reviewing the hourly chart patterns, the indices were up in the morning, down in the afternoon, back up late in the day, and then they pulled back in the last hour, to close quite low on the session.

We’ll see how it goes tomorrow.

Good Trading!

Harry