Markets Set New 2011 Highs! SPX, Nasdaq, NFLX, GOOG, AMZN, RIMM, VECO, MA, V, BRCM, BWLD
The broader market continued to show strength today, with major indices recording new 2011 highs. Financials and energy stocks bounced a bit today and helped to push the markets higher. GOOG was up +1.48%, or $7.77, on news of Android phones topping the smarphone sales last month. RIMM bounced +3.29%. MA and V were strong today as consumer confidence rose. MA recorded a new 52-week high at $278.1.
Last night, NFLX reported a strong quarter, but, the forecast was on the weak side. NFLX shares sank 9%, or $22.76! VECO saw more than a double in its Q1 profit, sending its shares up +4.27%. After the market, both AMZN and BRCM missed their earnings estimates. BRCM shares fell 8.4%, while AMZN somehow avoided a stumble, down only 0.9%. BWLD delivered a strong quarter and solid forecast. Its shares were up +3.74% this evening. BLWD has more room to go higher tomorrow as this is going into a new all-time high area with little resistance, and should test $65 soon.
The Dow was up +115.49 points; SPX added +11.99 points; Nasdaq gained +21.66 points:
SOXX (semiconductors) was up +1.59%. OIH (oil services) and XLE (energy) bounced. GLD (gold) and SLV (silver) were both down. XLF (financials) added +0.62%. BTK (biotechs) gained +1.37%.
SPX
SPX added +11.99 points to close at 1347.24. Its daily MAs and MACD went higher.
Nasdaq
Nasdaq gained +21.66 points to close at 2847.54. Its daily MAs curved higher and MACD rose.
Although the market indices rose to new highs, some stocks saw big profit-taking. For example, OPEN gave up almost 6%; PCLN was down $12 at day low; CMG tumbled another $7.71 (off almost $15 in 3 trading sessions). Internet stocks mostly turned lower, after a strong open, with SINA down 2.75% and SOHU off 3.06%. There are a lot of churning going on right now, as option premiums are still high because it is still early in this month's cycle. Keep a lot of cash and be very patient.
Good night and HappyTrading! ™ 
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