by Harry Boxer
Thursday, September 10, 2015
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The stock market indices ended the week on a strong note, despite early weakness. The markets were down twice in the morning and held both times. That triggered a midday rally. They pulled back in the afternoon, but once support held again, they went to higher highs, finishing on a late spurt at the highs for the day going away.
Net on the day, the Dow was up 102.69 at 16,433.09, less than 2 points off the high. The S&P 500 was up 8.76 to 1961.05, closing at the tick high for the day, 22 points off the low. The Nasdaq 100 was up 26.93 to 4323.23, at the high for the day, and 55 points off its low.
Advance-declines were positive by 200 issues on New York Stock Exchange and positive by 350 issues on Nasdaq. Up/down volume was 16 to 14 positive on New York, with total volume of a strong 3 billion shares. Nasdaq traded a little over 1.6 billion shares, and had a 9 to 7 1/2 positive volume ratio.
TheTechTrader.com board was mostly green at the end of the day with a lot of solid gains. Priceline.com (PCLN) was up 2.67 to 1290.41, Google Inc. (GOOG) up 4.42 to 625.77, Apple Inc. (AAPL) 1.64 to 114.21, and Amazon.com Inc. (AMZN) 7.20 to 529.44.
Tesla Motors, Inc. (TSLA) bounced 1.76 to 250.24. Biotech's were strong today. Akebia Therapeutics, Inc. (AKBA), in a big snapback, gained 1.54 to 11.21, Juno Therapeutics Inc. (JUNO), ran 1.15 to 41.58, and NewLink Genetics Corporation (NLNK) closed up 1.84 to 51.03. In addition, Mobileye N.V. (MBLY) popped 1.46 to 46.03, and Radius Health, Inc. (RDUS) advanced 2.22 to 68.08.
On the downside, there were some point-plus losers today. Netflix, Inc. (NFLX) lost another 1.97 to 97.51. Energy Focus, Inc. (EFOI), on a secondary, was down for 6.57 to 16.43, Fitbit Inc. (FIT) down 1.83 to 32.40, and GoPro, Inc. (GPRO) 1.46 to 32.42, rounded out the losers on our main board.
Checking the TheTechTrader.com percent-gain leaderboard, Arrowhead Research Corp. (ARWR) gained 68 cents to 6.40, or 12%, on 3.8 million shares.
Aceto Corp. (ACET), on a strong report, was the big winner for us today, up 4.66 to 26.79, or 21%, on 1 million shares. Shake Shack Inc. (SHAK) climbed 6.58 to 55.14, or 14%, on 2.3 million shares, trading as high as 56.69 earlier in the day.
Among other gainers, Puma Biotechnology, Inc. (PBYI) was up 6.59 to 103.28, Restoration Hardware Holdings Inc. (RH), on a strong report, up 8.49 to 99.55, and Seattle Genetics, Inc. (SGEN), a standout today, up 3.43 to 45.01.
ZIOPHARM Oncology, Inc. (ZIOP) was also a standout today, up 80 cents to 10.62, and SodaStream International Ltd. (SODA) bounced 95 cents to 15.77.
Stepping back and reviewing the hourly chart patterns, after coming down early, bouncing around and testing, the indices ran up in a 3-wave rally that took them up to the highs for the day near overhead resistance at the end of the day and week at the closing bell.
Have a nice weekend! Harry
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