The Nasdaq market is trading up and down all morning, but it then decided to go down around 1:30pm EST on Monday. Nasdaq is down about -9 points, S&P500 is up about about +1. Overall the decliners outpaced advancers in terms of volumes and issues. Decliners to advancers are about 18 to 11 on both exchanges. Up to down volumes are a bit different on NYSE than Nasdaq. NYSE's up to down volume is favor with the up, but Nasdaq was favor toward the down side. The market is still undecided on which direction to take. Hopefully the holiday spirit will life the market to the upside.
Stocks worth considering are:
(PFE), a big cap pharma company won the patent case of the Lipitor medication, is up about 10% today. A federal judge upheld two key patents on anti-cholesterol drug Lipitor. This ruling hurts Indian drug maker Ranbaxy Labs, that wants to introduce a generic version of Lipitor. This drug accounted for almost 25% of (PFE) revenue. It is indeed a big victory for (PFE).
(NWRE), a thin-client software and hardware maker, climbed 14% today at mid-day. Volume has picked tremendous today compared to normal trading day. It made another 52-week high. It introduced new products for the Indian market two weeks ago. Volume has poured into this issue in the recent days. A very good sign.
(GROW), a past favorite of mine, has pieced thru the $15 mark today. It was at $10 not too long ago when I introduce this gem for my blog readers. Like (NWRE), volume has picked more and more on the upside. Another good indication somebody or some institions are accumulating this stock. It is in the mutual fund management business.
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