Sarmad,
So much for the poor BtB being a problem. The DOW is presently up 100+ points and the NASDAQ is up 20+ points. Even the SOX is up 2+ points as I write this post.
The NASDAQ is above 1900 and looking strong. Shouldn't be long until we hit 2000 - then onward to 2300.:) - and we are only at 18 September. Maybe the sights have have been set too low?:)
Here's what Briefing.com had to say in their 12:00 report
<12:00 ET Dow +72, Nasdaq +15, S&P +9.33: [BRIEFING.COM] Traders have taken a weak open, and turned it into a solid rally as the market's bullish momentum shows little signs of slowing... A light August semiconductor equipment book-to-bill reading prompted some moderate selling activity at the open, but true to recent form, buyers have come roaring back and sent the indices to progressively higher levels... The source of the mid-morning rally came from a variety of places - short-covering activity stemming from Friday's quadruple witching, for instance- but was most likely the result of the Nasdaq's resilience in the early going... The Composite held above yesterday's low, and its solid posture invited more buying interest as the morning wore on... At this point, the Nasdaq has topped its September/52-week intraday high, due in part to strong gains in telecom equipment, computer hardware, internet, and disk drive... Industry groups within the broader market have also played a crucial role in the market's surge, with brokerage shares pacing the blue chip averages' climb... Bear Stearns (BSC 74.83 +2.36) delivered a stellar Q3 (Aug) report in which EPS more than doubled from year-ago levels and topped the consensus estimate by $0.65... Transportation, defense, and drug have also exhibited relative strength... Finally, today's economic reports have been largely mixed, and have neither contributed/detracted from the day's performance... Initial claims for the week of September 13 dropped 29K, to 399K (consensus of 410K), but continuing claims rose 39K to 3.683 mln... August Leading Indicators matched the consensus estimate of 0.4%, and - just now - the September Philadelphia Fed Index expanded for a fourth month in a row, to 14.6, but missed the consensus estimate of 17.0... NYSE Adv/Dec 2005/1046... Nasdaq Adv/Dec 1809/1135.>
Don |
