VIX 33.73 Put/Call 0.69
Dow 8,711.88 +447.49 +5.4%
Nasdaq 1,335.25 +73.13 +5.8% Volume 1924.86
Up Volume 1751.91 Down Volume 162.21
Advancers 2611 Decliners 900
New Highs 27 New Lows 114
S&P 500 898.96 +46.12 +5.4%
NYSE Composite 484.71 +23.87 +5.18% Volume 1774.87
Up Volume 1626.33 Down Volume 142.48 Wow!
Advancers 2702 Decliners 614
New Highs 34 New Lows 94
Bullwinkle: "Hey Rocky, watch me pull a rally out of my hat!"
Rocky: "Again?"
Bullwinkle: "Nothing up my sleeve... Presto! (bull snorts) Hmm, don't know my own strength."
The miners' rescue was on the news and people felt good about buying stocks. 1000 point move in the DOW. Sellers were not to be found as the up volume was huge. EVERY sector was bought which showed a broadbase rally vs. a secular one. May 11, June 14 and July 5 were all gaps up on the Nasdaq. Only the May 11 one resulted in follow throughs. I think it has a good possibility to retrace back to the 1275 level and then move higher. Will sell some techs at the open to protect profits.
Jack
Best days in Nasdaq history percentage wise.
01/03/01 up 14.17% Greenspan drops rates unexpectedly 50 basis points for fed funds rate
12/05/00 10.48% Greenspan, crude dropping below $30 and positive election outcome
04/05/01 8.92% DELL affirms guidance and Alcoa has a good quarter. Yahoo got Lehman upgrade.
04/18/01 8.12% Greenspan cuts rates, INTC says demand may have bottomed and TXN says largest wireless customer inventory done and they would be ordering.
05/30/00 7.94% LU buy out offer for Chomatis. Analysts pump semis and opticals.
10/13/00 7.87% Friday the 13th and a Full Moon too.
5/8/02 - 7.78% CSCO beats by 2 cents, QLGC has a strong quarter with further upside.
12/22/00 7.56 Santa Claus visited the Nasdaq
10/21/87 - 7.34% Crash of 1987 bounce toward new highs
4/18/00 - 7.19% Investors buy quality tech issues that had been dragged down by the indiscriminate selling that took place in the past couple of weeks
4/25/00 - 6.57% JDSU amd EMC had great earnings.
4/17/00 - 6.56% Lattice Semi, Texas Instrument, and Vitesse beat estimates.
4/10/01 –– 6.09% CSFB upgrades European telcos to Neutral from underweight, Marconi says it will make numbers.
09/08/98 - 6.02% Greenspan hints he might cut rates.
12/08/00 –– 5.99% INTC up 5.22%. CIBC World Markets upgrades to BUY from HOLD, despite lowering FY01 view by 17.6% to $1.40. Believes worst in stock is over.
10/03/01 - 5.93% CSCO reaffirms guidance, Bush announces financial stimulus package for business, NAPM non-manufacturing index for September came in at 50.2 percent, up from the previous month's 45.5 percent and much higher than the expected 43.3 percent.
10/20/87 - 5.92% Crash bounce.
07/29/02 - 5.79% 9 Miners rescued in PA after being trapped for 70+ hours
11/14/00 5.78% GLW announces an alliance with CSCO in optical infrastructure.
10/31/00 5.58% Halloween |
