Day Traders Diary
03/26/12U.S. stocks opened higher on Monday as Germany's chancellor signaled she may be open to boosting the euro-zone financial firewall while Federal Reserve Chairman Ben Bernanke said faster growth will be required to reduce unemployment further. The Dow Jones Industrial Average advanced 89 points to 13,171. The S&P 500 Index added 11 points to 1,407. The Nasdaq Composite Index rose 24 points to 3,091. Last week of March and the first quarter and we're off to a good start. Every sector is performing well. Entertainment company, Lions Gate is jumping 4% thanks to their blockbuster movie, Hunger Games. In the retail space Cabela's and Foot Locker are higher by 2% on upgrades. Gap was downgraded, but the stock is up making a new high. Cal-Maine Foods is lower by 4% on earnings. One of the few stocks lower. In the defensive space, Philip Morris is up a percent to a new high thanks to an upgrade. Everything is working. Amazing start to the new year. Through the morning the averages inched up with the Dow rising 130 points while the Nasdaq improved by 37 points for a 19% return for the year. Wow. Thank you Apple. In the afternoon the averages drifted off the highs, but not by much. A few more stocks in the red from the utility and energy sector, but all in all, it's an extremely strong day. Through the afternoon the averages pushed higher. The Dow rose 150 points while the Nasdaq improved by 50 points up 20% for the year. Wow. In the tech sector IBM, Intel, and Cisco Systems are at new highs for the year. Apple, Microsoft, and Google are not far behind. Amazing, amazing run. The Dow Jones Industrial Average finished up 160 points, or 1.2%, at 13,241, recouping last week's 152-point, or 1.2%, loss, its worst week of the year. The S&P 500 rose 19 points, or 1.4%, to 1,416, also wiping out last week's 0.5% decline. The Nasdaq Composite gained 54 points, or 1.8%, to 3,122.
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