July 21st, 2009 (Live Trading News) Alert: the Red Roadmaster looks at Human Genome Sciences Inc. (HGSI) for the 1st time since February 4, 2009 when it was US$2.24/shr. Today it Gapped open and closed at US$12.51 + 9.19/shr.
The NAS leads the Bull Charge North; + 21% so far in 2009
Re-cap of the US Stock Market Action for July 20, 2009 + Stock Talk.
US stocks moved North again yesterday sending the S&P 500 to an eight-month closing high.
The DJIA closed up 104.21 pts, or 1.19%, at 8,848.15, the S&P 500 rose10.75 pts, or 1.14% to close at 951.13, and the leading NAS tallied up + 22.68 pts, or 1.20% to end the session at 1,909.29, + 21% on the year, and its highest close since October 2008, and the DJIA marked its best day since January 2009.
Savvy market observers (like yours truly) who focus on technicals expect more upward momentum after the S&P 500 sliced through the near term overhead resistance at 950.
On the economic data front, the index of leading economic indicators, which gauges US economic prospects for the next six to nine months, increased in June for the 3rd straight month, indicating the recession is coming to an end.
Volume and Breadth: trade was light on the NYSE, with 1.13B/shrs changing hands, well below last year’s estimated daily average of 1.49B, and on the NAS, about 2.08B/shrs traded, below last year’s daily average of 2.28B. Advancing stocks outnumbered decliners on the NYSE by a ratio of slightly more than 3 to 1, and on the NAS, two stocks rose for every one that fell.
Stocks to Watch Today
Apple, Inc (OTC:APPL), E. I. DuPont de Nemours & Co. (NYSE:DD), Human Genome Sciences Inc. (HGSI), Las Vegas Sands Corp. (NYSE:LVS), Starbucks Corp. (NASDAQ:SBUX), and Wells Fargo & Company (NYSE:WFC).
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