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Commodity Sectors Hoist the Market Up: SPX, Nasdaq, WLT, ANR, PCX, ACI, BTU, FCX, SINA, SOHU, NTES, RIG, NOV, DO, SLB


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The commodity sectors bounced today after slipping for 3 sessions.  Coal stocks were particularly strong.  WLT reached a new all-time high at $139.74 and ended up +5.04%.  Other coals plays were up as well:  ANR +4.25%, PCX +9.8%, ACI +3.16%, BTU +2.92%.  Gold and silver stocks also bounced.  FCX added +2.39% and closed at a new 52-week high of nearly $122.  Oil services continued where they left off last week:  RIG +3.25%, DO +1.4%, NOV +1.84%, SLB +1.96%.

Chinese internets broke out higher today.  SINA soared +7.75% and traded as high as $83.6, a new all-time high.  SOHU was up +1.83% and NTES jumped +3.48%.

The Dow was up +34.43 points; SPX added +4.73 points; Nasdaq gained +9.03 points:

OIH (oil services) added +2.84%.  XME (metals and mining) gained +2.91%  GLD (gold) and SLV (silver) both bounced.  USO (oil) was up also.  FXI (Chinese ADRs) climbed +1.13%.


SPX added +4.73 points to close at 1274.48.  The daily MAs went higher and the MACD flattened.


Nasdaq gained +9.03 points to close at 2716.83.  The daily MAs glided up and the MACD stayed flat.

After a brief 3-day rest, trading mixed and slightly down, all 3 major market indices closed higher today.  Energy and mining stocks really helped SPX.  After the market, NE and LULU shares jumped.  LULU jumped +8.86%, raising its forecast.  NE is being added to the SP500 index, replacing QLGC.  NE shares traded up +5.46%.   It looks like oil services will push even higher tomorrow.  RIG, NOV, SLB, and DO all look very strong!

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