Indices Close Mixed on Late Rally
Posted on February 17, 2012 at 18:43 PM EST
The stock market indices closed mixed on the day, and were kind of choppy, with a move sharply lower in the morning. They stabilized and a rallied back late in the day to bring the S&P 500 and the Dow into the plus column. The Nasdaq, however, was weak all day, and stayed that way, closing down on the session, although, in the last 10-15 minutes the indices did pull back off the afternoon highs when they were challenging resistance, but were unable to break through. Net on the day, the Dow was up 46.02 at 12,950.10, the S&P 500 up 3.19 to 1361.23, just 2 points off the high, and the Nasdaq 100 was down 8.05 at 2584.24, about 9 points off its high. Advance-declines were 17 to 13 positive on the New York Stock Exchange, and flat on Nasdaq. Up/down volume was 47 to 37 positive on New York, with total volume of 850 million shares traded today. Nasdaq traded about more than 1.8 billion shares, and had a 10 to 8 negative plurality. TheTechTrader.com board, as a result, was mixed, but mostly lower. Leading the way today was Achillion Pharmaceuticals, Inc. (ACHN), up 2.29 to 11.04, or 26%, on 6.4 million shares. Blue Dolphin Energy Company (BDCO) gained 1.64 to 10.30, or 19%, on less than a half million shares, and low-priced Sangamo BioSciences, Inc. (SGMO) rose 1.13 to 5.33, or 27%. Freightcar America, Inc. (RAIL) was up 4.03 to 25.33, or 19%; Openwave Systems Inc. (OPWV) 23 cents to 2.52, or 10%; Sky-mobi Limited (MOBI) 42 cents to 5.29, or 8 1/2%; BioCryst Pharmaceuticals, Inc. (BCRX) 52 cents to 4.52, or 13%; Fusion-io Inc. (FIO), on rumors of takeover, up 3.37 to 28.30, or 13%; and Imperial Sugar Co. (IPSU) up 64 to 5.99, or 12%. Solar energy stocks were firm, and especially strong in the morning, but gave back some of their gains. Still, Canadian Solar Inc. (CSIQ) was up 62 cents to 4.20, SunPower Corporation (SPWR) 65 cents to 8.13, Suntech Power Holdings (STP) 28 cents to 3.65, Renesola Ltd. Common Shares of (SOL) 18 cents to 2.90, LDK Solar Co., Ltd. (LDK) 48 cents to 5.97, and First Solar, Inc. (FSLR), the leader in the solar sector, up 2.88 to 42.59. In the junior oil sector, Royale Energy Inc. (ROYL) was up 65 cents to 5.58, or 13%. In addition, B&G Foods Inc. (BGS) advanced 1.51 to 23.71, P.F.Chang’s China Bistro, Inc. (PFCB) 2.13 to 37.74, Vertex Pharmaceuticals Incorporated (VRTX) 1.75 to 39.24, Buffalo Wild Wings Inc. (BWLD) 3.75 to 87.89, and VirnetX Holding Corp (VHC) 1.03 to 24.61. On the downside, there was nothing down more than a point except Rackspace Hosting, Inc (RAX), off 1.51 to 52.93. Even the ultra-shorts were very narrowly changed today. We’ll have to see how it goes early next week, but the market sure gave a good account of itself this week. Good Trading! Harry
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