The market continues its correction mode with up-and down action on Friday. Around 1:30 pm EST, Nasdaq is down about 4 points, S&P 500 is about even. Both the Nasdaq and NYSE opened were up slightly, and they both are trading sideway all day long. Today is option expiration day, volume is expected to be higher than the typical trading day. The advancers to decliners ratio on NYSE is 17 to 15 and 13 to 15 on the Nasdaq. The up to down volumes are pointing to the both ways, it 7-to-6 on both NYSE, and it is 5-to-8 on the Nasdaq. Most of the advancers are clearly came from the big board. The good thing is new highs vs. new lows are about 2 to 1 ratio.
Stocks worth mentioning are:
(ADBE), the popular PDF creater software company announed earning this morning, it was up about $3.50. Its fourth-quarter profit grew 36% to 30 cents per share, beating analysts' estimate by one cent. Volume has picked up about 4 times normal day. A good sign for the stock. I expect more upside to come for this stock.
(NILE), an e-commerce company which sell diamonds on the internet, is up about $1.75 today. Volume has picked up about 300% more than normal day. Blue Nile has a selection of more than 60,000 diamonds, but it has a virtual inventory of diamonds instead of the physical inventory. Inventory is a non-issue of the company, a very good sign.
No comments:
Post a Comment