Day Traders Diary


U.S. stocks held their gains Monday after a trade group reported an 8.2% increase in pending home sales in February and another report showed improvement in the services sector in March. The Dow Jones Industrial Average rose 34 points to 10,961. The S&P 500 Index climbed 5 points to 1,183. The Nasdaq Composite added 16 points to 2,419. Apple is in the news releasing their Ipad over the weekend. Six analysts made comments on the stock including two raising their price target over $300 a share. The rest of the techs look good. The chips continue to perform well. Intel received positive comments this morning from Amtech. Google, EMC, and Juniper Networks are higher on upgrades. The financials look good this morning. Wells Fargo, RF Financial, Zions Bancorp, and M&T Bank were all upgraded. Longtop Financial is up 2% after getting approval to enter China. Genworth, Morgan Stanley, and Goldman Sachs are higher even though they all received cautious comments from at least one analyst. Hartford Financial is higher on an upgrade. The retail sector received plenty of comments this morning. Kohls, American Eagle, and Gymboree are all up 3% on positive analyst comments. Urban Outfitters, Decker Outdoors, and Gap are also higher on upgrades. After the first hour the averages made new highs for the year. The Dow rose 50 points to 10980. The Nasdaq rose 22 points. Everything is looking good. Through the morning the averages remain in the green, but off the highs. In the afternoon the averages pulled back a little bit into the Tiger Woods news conference, but then rebounded in the last hour. The Dow Jones Industrial Average finished up 46 points at 10,973. The S&P 500 Index climbed 9 points to 1,187. The Nasdaq Composite Index gained 26 points to 2,429.
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