The market is up around 11:30 am EST on Wednesday. Nasdaq is up about 15, S&P500 is up about 8. The biggest gain is from the DOW with 86 point advance. The market opens firmly up at the open on all exchanges after the revised GDP announcement as well the recent pullback days. GDP was revised slightly downward this morning, to a 4.1%, it stills is the strongest gain in a year and a half. The advancers to decliners are 21 to 9 on the NYSE and 2 to 1 on Nasdaq. The up to down volumes are 6 to 1 on NYSE and 4 to 1 on Nasdaq. So the clear winning stocks are mostly from the NYSE. That means the Nasdaq tech stocks are still catching up. Until more confirmation from the Nasdaq, I would be hesitated to add to my positions.
Stocks worth mentioning are:
(ERTS), the king pin of the electronic games proceducing company, is up about $0.50. It reversed the down momentum from after close price. It pre-announced earning last night after close, it said it won't meet the previous forecast. It is up with massive volume, about 5 times daily volume. This can be signified as the bottom of the stock. We may have to see in the future days to come.
(PALM), the mobile computing and communication solutions company which mades PDA under the PALM brand, reported great earning last night, it is about $1 this morning. Volume has picked up about 6 times the typical day. It was up about $2 at the open, but it trends lower at mid-day. I will see how this closes before getting my feet wet on this one.
(ULTI), a pay-roll software specialist company, is up about $1 at mid-day. This one is relatively new to the stock market screen. It is breaking out of the long building base. This one is interesting and worth a look.
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