The market continues its correction mode with up-and down action on Friday. Around 2:00 pm, Nasdaq is down up about 7 points, S&P 500 is up about 4. Both the Nasdaq and NYSE opened were down in earlier going, and decided to go up in the afternoon. Hopefully the market will stay up until end of the day. The advancers to decliners ratio is about 7 to 4 on both Nasdaq and NYSE. The up to down volumes are pointing to the up side, it 19-to-13 on both NYSE, and it is 17-to-13 on the Nasdaq. Next Friday will be the option expiration day. I expect more volumes and more volatility next week.
Stocks worth mentioning are (more stock ideas from my private alert list):
(NMGC), another small price stock popped up at the open. My subscribers got the early alert around 10AM this morning. This semicoductor company announced great earning this morning. It made $0.11 vs. lost of $.67 same quarter last year. This is a low volume trading stock during the normal trading days. Today's volume as of 2pm, it is about 20 million vs. 50K on an average day. As you can see, a lot of up momentum has pumped into this one.
(WITS), this software company had a secondary offering out this morning. It was priced at $20. The volume has picked up because of it. It is on the verge of breaking the 52-week high.
(LLY), this big-cap pharmaceutical company pre-announced great earning for the coming quarter this morning. Volome has doubled vs the normal trading day.
1 comment:
please remove 419-472-0127 from future faxes.
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