Stock Market At A Glance

Posted by admin

October 8, 2009

Indexes finished higher today on the news that jobless claims fell to 521,00 last week down from 554,000 from previous week before hitting resistance. Dow rose higher by 61 points to 9787, S&P 500 rose by 8 points to 1065 and Nasdaq rose by 14 points to 2124. Volume came in higher than Wednesday on all the indices.

Even as Nasdaq rose today, most of the leaders within the index finished in red. Some of the losers included Apple (AAPL), Google (GOOG), Baidu (BIDU) and Priceline (PCLN)

It looks like China remains the theme of this market as more and more chinese stocks breaks out on volume. One such stock is, Universal Travel Group (UTA), domestic and international airline ticketing services, and cargo transportation agency services primarliy in China broke out on huge volume near 14.10. It gained 1.96 (14.5%) to 15.45.

Gold continues its ascending climb as it rose 11.90 to 1056. Take a look at the chart of gold index (GLD) which continues to makes new highs.

Stock Trade Updates: Stopped out of Potash (POT) @ 91.53 (shorted @ 88.83). I will look to re-enter this short when there is little more convinction of the market moving downward.

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