Day Traders Diary
9/10/09U.S. stock indexes on Thursday turned mostly lower in volatile early trade, with upbeat guidance from the technology sector and Dow component and household name Procter & Gamble helping bolster investor sentiment. The Dow Jones Industrial Average opened up 2 points higher at 9,549. P&G is up 3%. Pfizer is modestly higher on an upgrade. The S&P 500 Index fell less a point to stand at 1,032 while the Nasdaq Composite advanced a point to 2,062. The techs are performing well. Yahoo and RF Micro Devices are both jumping 5% on upgrades. Xerox and Apple are higher on upgrades. Corning is modestly higher on bullish comments regarding the fourth quarter. Texas Instruments is higher after lifting earnings guidance. The financials are modestly lower. Blackstone is bucking the trend, up 4% on an upgrade. BH Homes is unchanged on an upgrade. In the retail space, Lululemon Athletica is up 6% after beating earnings estimates. Mens Warehouse is down 7% following earnings. The healthcare stocks are modestly higher following the Presidents speech last night. Monsanto is the dog of the day down 6% after reaffirming their earnings at the low end of the guidance range. After the first half an hour, the averages bounced back into the green. Resilient. Through the morning the averages remained in the green on light volume. Most of the financials remain in the red. In the afternoon the averages pushed a little higher on a strong Treasury auction. In the last hour the averages kept drifting higher back toward the highs of the day. The Dow Jones Industrial Average rose 80 points closing at 9627. The S&P 500 rose 10 points to 1044 while the Nasdaq rose 23 points to 2084. Another up day.
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