Scalper1 News
Major averages rose substantially yesterday on higher volume with the NASDAQ Composite finally surpassing its old high set in March 2000. The Russell 2000 also hit all time-highs but has been doing so since January 2013. Both the S&P 500 and DJIA closed above their respective 50-day moving averages. The market seems resilient with respect to issues in Greece as well as having reacted bullishly to the Federal Reserve’s announcement that rates would rise once it was clear the economy was turning a corner which, of course, remains to be seen despite a smattering of economically bullish reports. Futures are up this morning, shrugging off steep overnight declines in Chinese markets that saw the Shanghai Composite dive -6.4% to log its biggest weekly decline since October 2008, while the Shenzhen Index plummeted -6%. Chinese internet and mobile software developer of security applications Cheetah Mobile (CMCM) had a pocket pivot. Earnings and sales are soaring, group rank 2. Biotech Biomarin (BMRN) had a buyable gap up on positive news from its drug study. Group rank 4. Electronic postage stamp company Stamps.com (STMP) had a pocket pivot after it gapped up on a strong earnings report. Earnings and sales are accelerating, pretax margin 28.1%, ROE 21.6%, group rank 5. Thermal printer and RFID company Zebra Technologies (ZBRA) had a pocket pivot. Earnings and sales are accelerating, institutional sponsorship has grown over the last 3 quarters, group rank 31. Hair products company Helen of Troy (HELE) had a pocket pivot off its 10dma after it gapped up on a strong earnings report. Earnings and sales are accelerating, group rank 16. Scalper1 News
Scalper1 News