Day Traders Diary


U.S. stocks look ready for a bounce even as crude-oil futures top $100-a-barrel this morning. The Dow Jones Industrial Average declined 12 points to 12,093. The Standard & Poor's 500 Index fell a point to 1,306. The Nasdaq Composite Index inched up a point to 2,724. A number of stocks are higher following earnings. Priceline is jumping 9% after beating estimates. H&R Block is up 6% after beating estimates. Heinz, GM, Kohls, and Target are all higher thanks to earnings. To the downside El Paso, Newmont Mining, RBS, Dish Network, and Sears are lower on earnings. The oils keep pushing higher, but the other commodities are trading higher as well. Fertilizers, copper, and iron ore plays all look good. The techs look good except for HP. That stock can't seem to get out of its' own way. The financials are mixed this morning. E-Trade is down 4% as a large hedge fund will sell his position in the firm. Through the first hour of trading the Nasdaq jumped 20 points dragging the Dow into the green, but with oil so high it will be tough to put in much of a rally. As the morning progressed the Dow moved back into the red as the Nasdaq gave up most of its' gains. The high energy prices are hurting the transports. The auto sector has been walloped the last several days. GM dropped sharply after the open falling back toward the IPO price. The financials are now in the red. A number of techs are holding the green except for Apple, HP, and Google. In the middle of the afternoon the Dow fell over 100 points on rumors of chemical weapons in Libya. However, the rumors were quickly dismissed and the averages started to rebound. In the last hour the averages kept improving with the techs leading the way. Interestingly, the oil and oil related stocks are selling off as the rest of the commodity space improves. Into the close, the Nasdaq held its gains as the Dow almost got back to the unchanged level before selling off again. The Dow Jones Industrial Average fell 37 points to end at 12,068 due in part to shares of Hewlett-Packard losing 3.3%. The Nasdaq Composite Index added 14 points to 2737. The S&P 500 Index slipped a point to 1306. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.