Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Drops After Trumps Biotech Pricing Comments, Impressive Come Back

Stock-Markets / Stock Market 2017 Jan 12, 2017 - 06:32 AM GMT

By: Harry_Boxer

Stock-Markets

The stock market had a very volatile day today as the indices went up in the morning, down in the afternoon on news that Trump is going to make the biotech companies accountable for pricing, rallied back up, came back down to retest, held, and then put on a very impressive afternoon rally that took the indices back into the plus column, to close up on the day.


Net on the day, the Dow was up 98.75 at 19,954.28, 19 points off the high. The S&P 500 was up 6.42 at 2275.32, right at the high for the day. The Nasdaq 100 was up 15.04 at 5050.21, also at the high for the day, 38 points off the low.

Advance-declines were 20 to 9 positive on the New York Stock Exchange, and 5 to 4 positive on the Nasdaq. Up/down volume was almost 2 to 1 positive on New York, total volume of 3 1/2 billion shares traded. The Nasdaq traded 1.7 billion shares and had an 11 to 8 positive volume ratio.

TheTechTrader.com board was very mixed today. Priceline.com (PCLN) was up 86 cents to 1536.11, Alphabet Inc. (GOOG) up 3.12 to 807.91, Apple Inc. (AAPL) up 64 cents to 119.75, Amazon.com, Inc. (AMZN) 3.12 to 799.03, and Netflix, Inc. (NFLX) 61 cents to 130.50.

Baidu, Inc. (BIDU) lost 1.00 to 179.31, Facebook, Inc. (FB) gained 1.74 to 126.09, and First Solar, Inc. (FSLR) advanced 1.61 to 35.00.

Tesla Motors, Inc. (TSLA) dropped 14 cents to 229.73.

Other stocks to the upside included Argan, Inc. (AGX) up 1.00 to 70.35, Exact Sciences Corporation (EXAS) up 1.09 to 18.66.

On the downside, NVIDIA Corporation (NVDA) was down another 1.31 to 105.16, NeuroDerm Ltd. (NDRM) down 1.00 to 20.90, Clovis Oncology Inc (CLVS) down 1.05 to 49.33, CoLucid Pharmaceuticals, Inc. (CLCD) 1.45 to 33.55, and Aerie Pharmaceuticals, Inc. (AERI) 1.05 to 38.80.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) had a very tough session, down 4.51 to 37.90, but the low is another point below that.

Checking TheTechTrader.com percent-gain leaderboard, Uranium Resources, Inc. (URRE) climbed 94 cents, or 42%, to 3.19, on 25.5 million shares traded. Biocept, Inc. (BIOC) popped 90 cents, or 50%, to 2.71, on 63 million shares traded. AXT Inc. (AXTI) bounced 50 cents, or 10%, to 5.80.

MYOS RENS Technology Inc. (MYOS) jumped 5.52, or 425%, to 6.82, 16 million shares traded, or 85,000% more volume than average.

AXIM Biotechnologies, Inc. (AXIM) ran 3.26, or 28%, to 15.00. Kornit Digital Ltd. (KRNT) bounced 2.85, or 20%, to 16.80, on 1.75 million shares traded, reaching as high as 17.50 at one point.

The Direxion Daily S&P Biotech Bear 3X ETF (LABD) closed up 1.41, or 10%, to 14.96.

Among other gainers, Workday, Inc. (WDAY) had a big day today, up 7.35 to 81.70, and Teck Resources Limited (TECK) was up 1.57 to 23.98.

Stepping back and reviewing the hourly chart patterns, the indices were up a little in the morning, they got slammed back down, came back strongly, retested the lows, and then had a very strong, late rally, closing at the highs for the day.

Good Trading!

Harry

For more of Harry Boxer, sign up for a FREE 7-Day Trial to his Real-Time Technical Trading Diary.

(c) 2016 AdviceTrade, Inc. All rights reserved. Distributed only by written permission of AdviceTrade and The Technical Trader at info@advicetrade.com . In using any portion of Harry Boxer's content, you agree to the terms and conditions governing the use of the service as described in our disclaimer at http://www.thetechtrader.com

Mr. Boxer's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.

\
Harry Boxer Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in