Day Traders Diary
4/25/11U.S. stocks opened mostly lower on Monday as the benchmark indexes faced resistance near three-year highs and as investors tracked escalating energy costs. The Dow Jones Industrial Average fell 17 points to 12,488. The Standard & Poor's 500 Index fell a point to 1,336. The Nasdaq Composite rose 2 points to 2,822. A quiet morning to start. The commodities are modestly higher this morning Patriot Coal and Diamond Offshore are higher on upgrades. Nucor was upgraded as well, but the stock is lower. A number of financials are modestly higher. GE, Travelers, Legg Mason, and Blackrock received positive analyst comments. SunTrust is higher even though it was downgraded. Hartford is lower on a downgrade. In the tech space Polycom is jumping 13% on an upgrade. Brocade is up 4% on an upgrade. Apple, Corning and Intel are higher as well. The cloud computing stocks continue to push higher. Through the first hour the averages pushed lower led by Boeing, Caterpillar, Chevron, and DuPont. The Nasdaq is trying to hold on to its' gains. Through the morning the averages remained in the red. This is another big week for earnings, but so far the averages are quiet. Through the morning and into the afternoon the averages limited their losses as a number of techs and commodity plays improved. Intel is up 2% improving on Friday's gains leading the chips higher. The cloud computing stocks remain strong and the rare earth metal stocks are shooting higher. In the last hour the Nasdaq rallied into the green and held on to its' gains. The Dow recovered, but remained in the red. The Dow Jones Industrial Average finished down 26 points at 12,479. The S&P 500 lost 2 points to 1,335, led by falling resource stocks. The Nasdaq Composite edged up 5 points at 2,825.
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