Market At A Glance
Major indexes traded higher for the session as Goldman Sachs (GS) raised outlook on banking sectors. Volume came in below average to justify the jump in indices.
Among the banks, Goldman Sachs (GS) gained 6.86 (3.82%) to 186.47, Wells Fargo (WFC) gained 1.81 (6.89%) to 28.09, J.P. Morgan Chase (JPM) rose 1.94 (4.63%) to 42.80 and Bank of America (BAC) gained 0.62 (3.79%) to 16.96.
As far as the leading stocks go, Rino International (RINO), a Chinese environmental protection and remediation company is really acting strong in the face of market being under pressure. It should be kept on your watchlist till the market confirms its uptrend. In the same category is Hi-Tech Pharmacal (HITK) which is trading at multi-year highs. Wait and watch for them to pullback.
One more name to add to your watchlist is Starent Networks (STAR) as it approaches it breakout point. Before you pull the trigger on this one, watch for volume to increase above average.
And finally a new name to watch is A123 Systems (AONE), which recently debuted on Nasdaq last week. While it fell today on higher than normal volume, it does have a certain kind of momemtum that the market seems to like. I would prefer it to form some kind of base before breakout.
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[...] was Rino International (RINO), which gained 1.70 to close at 25.30. The stock was featured on Stock Market At A Glance on last Monday. RINO is way past is buy point from 17.65. But its a name to keep on your watchlist [...]