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  • Buyers Keep Markets From Falling: TSLA, FB, AAPL, PCLN, CF, BIIB, UTHR, INCY, BMRN, ACT 0 comments
    Feb 20, 2014 11:10 PM | about stocks: TSLA, FB, AAPL, PCLN, CF, BIIB, UTHR, INCY, BMRN, ACT

    After a quick day of pullback, the markets bounced higher again today. It appeared as if some profit-taking was about to happen. But, buyers drove stocks back up again! TSLA popped +8.43% after reporting a strong quarter and giving a bullish forecast. FB traded lower initially after anouncing a $19 billion deal to buy Whatsapp, an online messaging platform. But, by the market close, FB shares were up more than +2%!

    AAPL was soft, down more than $6. PCLN was down in the morning, but, ended $9.24 higher on the eve of its earnings. After the market, PCLN shares jumped $18.59, as it easily beat its earnings estimates.

    CF had a huge day yesterday after delivering a better-than-expected quarter. Its shares trade up more than $20 in the morning on Wednesday, but, was capped by the overall market condition. CF shares traded back up today. Biotech stocks are still pushing higher. ACT has been on a 3-day tear, adding more than $9 today. BIIB, UTHR, INCY, and BMRN all added to their gains!

    The Dow was up +92.67 points; SPX add +11.03 points; Nasdaq gained +29.59 points:

    GDX (gold miners) popped +4.06%. GLD (gold) and SLV (silver) went up as well. BTK (biotech) added +2.13%. FDN (internet) climbed +1.24%. SOXX (semiconductor) stayed higher.

    SPX

    SPX gained +11.03 points to close at 1839.78. Its 10-day MA moved higher.

    Nasdaq

    Nasdaq added +29.59 points to close at 4267.55. Its daily MAs and MACD went up.

    This market has been pretty amazing. Although the recent pullback was sharp, after two weeks in January, things popped right back up again! The market has resistance between SPX 1840 and 1850. On the downside, it has support between 1820 and 1810. Gold seems to have found a bottom. Energy stocks are starting to turn bullish. I'm not in a hurry to trade right now. Let's keep cash and see if the market consolidates here.

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Stocks: TSLA, FB, AAPL, PCLN, CF, BIIB, UTHR, INCY, BMRN, ACT
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