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  • Market Claws Back To Green!,  0 comments
    Feb 10, 2011 8:03 PM | about stocks: CSCO, AKAM, APKT, JNPR, CIEN, FNSR, ICE, CME, NTES, SNDA, BIDU, SINA, SOHU, CMG, PNRA, NILE, WYNN

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    Last night, investors were disappointed by CSCO and AKAM's earnings.  The market opened lower.  Techs were weak.  CSCO ended the day down 14.16% and AKAM lost 15.09%.  However, dip-buyers came in again after the morning weakness and drove the market back to green before the close!  Energy and mining stocks bounced.  CSCO's competitors actually traded higher, some much higher!  JNPR jumped +7.61%; APKT continued its climb, adding +4.26%; FNSR added +2.27%; CIEN advanced +2.67%. 

    Exchanges were relatively strong as NYX's potential merger drew investors' attention to the sector.  ICE popped another $5.32, adding nearly $10 in 2 days!  CME, which had been weak and had dropped $15 on its earnings report, gained $5.21.

    Chinese internet stocks were really strong.  NTES shares vaulted on strong earnings, up +11.63%.  SNDA also benefitted, up +9.46%.  BIDU, SOHU, and SINA all traded higher and all recorded new all-time highs!

    After the market, CMG delivered a blowout quarter with profits soaring +47%.  Its shares jumped more than $22 in after-hours trading to nearly $280/share!  PNRA also had a strong quarter, sending its shares up more than +10%!!  NILE missed its earnings estimates and plunged 11.8%.  WYNN reported a healthy quarter, but, its shares went slightly lower, down 1.41%.

    It was definitely a volatile day today and a lot of things were happening, as members called out the actions in the Trading Room.  ICE, SLV, RVBD, CREE, OPEN, AAPL, RIMM, JNPR were among the active ones:

    HappyTrading February 10, 2011 7:34 AM
    flying again!

    Frosty Muggs February 10, 2011 8:03 AM
    RVBD - Breaking out.

    Frosty Muggs
    February 10, 2011 8:26 AM
    SLV - I'm on the Mar 30 Calls.

    February 10, 2011 10:03 AM
    OPEN-ripping again, will be on Fastmoney this afternoon.
    CREE- Old dog lifting its head up.

    HappyTrading February 10, 2011 10:53 AM
    355 puts quickly went from $4 to $8.45, now back to $5.55

    HappyTrading February 10, 2011 11:11 AM
    up 6%

    HappyTrading February 10, 2011 12:19 PM
    65 calls flying; was only $0.6 just 20 minutes ago!!

    Remember, we have free complimentary Trading Room access for the month of February when you sign up for a new service subscription.  Click Here to find out more!

    The Dow was down 10.6 points; SPX added +0.99 points; Nasdaq gained +1.38 points:

    OIH (oil services) bounced +2.34%.  XME (metals and mining) and XLE (energy) both closed in the green.  XLF (financials) were basically unchanged.  FXI (Chines ADRs) was down 0.32%.


    SPX added +0.99 point to close at 1321.87.  Its daily MAs and MACD were slightly up.


    Nasdaq gained +1.38 points to close at 2790.45.  Its daily MAs and MACD were also higher.

    The market got a boost intraday today from rumors that Egyptian President was planning to step down.  Instead, he handed his powers to his vice president.  Oil is trading higher this evening.  We could also see gold and silver continue to bounce.  Oil services bounced strongly today and could see more buying tomorrow.  NOV and SLB are about to break out.  RIG looks really strong as well.  The market is volatile, so, be a little more careful out there.

    Good night and HappyTrading! ™ (click to see our Facebook Page)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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