Stock Market Summary For Friday, March 18, 2011

BTDStocks
updated | Author's Website

Early 1% plus gains in the market for the major indexes were erased as the market gave back some and mostly closed at the bottom part of the day’s trading range. Investor participation was tough to judge as today was an options expiration session. Breadth came in at good levels. Keeping with the trend we are raising the support/resistance levels on the DJIA and S&P 500 (see below). We are keeping the support/resistance levels on the Nasdaq Composite the same (see below). Overall, based on the stock market direction now seems to be a good time to nibble slowly into new stock positions. If you need to own stocks, please see our watch list below. In our watch list today we added additional positions in the PowerShares Double US Dollar Index Bullish Fund (symbol: UUP), the ProShares UltraShort Euro (symbol: EUO), and Nuance Communications (symbol: NUAN) at today’s market closing prices. Also, Cisco Systems (symbol: CSCO) a stock currently on our watch list declared a dividend for the first time in its history. The rhetoric on the street seems to be CSCO is dead money from a stock perspective. CSCO is clearly a stock out of favor right now which may present a nice buying opportunity for patient investors.

 

SUMMARY

 

DJIA: Up 0.7% to 11,859

S&P 500: Up 0.4% to 1,279

Nasdaq Composite: Up 0.3% to 2,644

 

SUPPORT/RESISTANCE LEVELS

 

DJIA: 11,824/11,990

S&P 500: 1,276/1,280

Nasdaq Composite: 2,617/2,653

 

BREADTH FOR NYSE

 

Advancing Issues: 2,181

Declining Issues: 843

Advance/Decline Ratio: 2.6 to 1

 

New Highs: 47

New Lows: 19

High/Low Ratio: 2.5 to 1

  

SECTOR ANALYSIS

 

Financials was the best performing sector up 1.4% while energy was the worst performing sector down 0.5%.

 

Other Sectors:

Consumer Discretionary Down 0.1%

Consumer Staples Up 0.8%

Health Care Up 0.5%

Industrials Up 0.6%

Materials Up 0.5%

Technology Up 0.2%

Utilities Up 0.5%

 

OPEN WATCH LIST SYMBOLS (Through Friday, March 18, 2011)

 

Transactions:

 

(SH) added @ $46.03 on 11/12/10; current price @ $42.76; 7.1% loss 

(PSQ) added @ $35.05 on 12/8/10; current price @ $34.35; 2.0% loss

(RWM) added @ $32.79 on 12/16/10; current price @ $31.35; 4.4% loss

(UUP) added @ $22.80 on 1/14/11; current price @ $21.72; 4.7% loss

(EUO) added @ $20.30 on 1/14/11; current price @ $17.87; 12.0% loss

(UUP) added @ $22.20 on 2/1/11; current price @ $21.72; 2.2% loss 

(EUO) added @ $18.97 on 2/1/11; current price @ $17.87; 5.8% loss

(UUP) added @ $22.14 on 2/24/11; current price @ $21.72; 1.9% loss

(EUO) added @ $18.92 on 2/24/11; current price @ $17.87; 5.5% loss

(NASDAQ:AAPL) added @ $340.33 on 2/24/11; current price @ $330.67; 2.8% loss

(NYSE:AGO) added @ $15.25 on 2/24/11;  current price @ $14.46; 5.2% loss

(NYSE:AGO) added @ $13.96 on 3/1/11; current price @ $14.46; 3.6% gain

(NYSE:FDO) added @ $50.28 on 3/2/11; current price @ $51.26; 1.9% gain

(UUP) added @ $21.94 on 3/4/11; current price @ $21.72; 1.0% loss 

(EUO) added @ $18.38 on 3/4/11; current price @ $17.87; 2.8% loss

(NASDAQ:NUAN) added @ $17.53 on 3/14/11; current price @ $17.40; 0.7% loss

(UUP) added @ $21.93 on 3/14/11; current price @ $21.72; 1.0% loss

(EUO) added @ $18.34 on 3/14/11; current price @ $17.87; 2.6% loss 

(NYSE:AGO) added @ $13.90 on 3/14/11; current price @ $14.46; 4.0% gain

(NASDAQ:CSCO) added @ $17.83 on 3/14/11; current price @ $17.14; 3.9% loss

(UUP) added @ $21.72 on 3/18/11; current price @ $21.72; 0.0%

(EUO) added @ $17.87 on 3/18/11; current price @ $17.87; 0.0%

(NASDAQ:NUAN) added @ $17.40 on 3/18/11; current price @ $17.40; 0.0%

 

Overall: 

 

(SH) overall average of four positions: average cost @ $42.80; current price @ $42.77; 0.1% loss 

(PSQ) overall average of four positions; average cost @ $33.14; current price @ $34.01; 2.6% gain

(RWM) overall average of four positions; average cost @ $31.39; current price @ $31.45; 0.2% gain

(UUP) overall average of five positions; average cost @ $22.12; current price @ $21.72; 1.8% loss

(EUO) overall average of five positions; average cost @ $18.80; current price @ $17.87; 4.9% loss

(NYSE:AGO) overall average of three positions; average cost @ $14.37; current price @ $14.46; 0.6% gain

(NASDAQ:AAPL) overall average of one position; cost @ $340.33; current price @ $330.67; 2.8% loss

(NYSE:FDO) overall average of one position; cost @ $50.28; current price @ $51.26; 1.9% gain

(NASDAQ:NUAN) overall average of one position; cost @ $17.47; current price @ $17.40; 0.4% loss

(NASDAQ:CSCO) overall average of one position; cost @ $17.83; current price @ $17.14; 3.9% loss

 

CLOSED WATCH LIST SYMBOLS

 

(UUP) added @ $22.56 on 10/20/10; removed @ $23.51 on 11/30/10; 4.2% gain

(EUO) added @ $19.19 on 10/20/10; removed @ $21.65 on 11/30/10; 12.8% gain

(NASDAQ:APOL) added @ $37.77 on 10/28/10; removed @ $39.97 on 12/31/10; 5.8% gain

(NASDAQ:NUVA) added @ $25.11 on 11/12/10; removed @ $26.03 on 12/31/10; 3.7% gain

(NYSE:DLR) added @ $52.22 on 11/26/10; removed @ $53.01 on 12/10/10; 1.5% gain 

(NASDAQ:CSCO) added @ $19.36 on 12/2/10; removed @ $20.91 on 1/6/11; 8.0% gain 

(UUP) added @ $23.14 on 12/8/10; removed @ $23.37 on 1/10/11; 1.0% gain 

(EUO) added @ $20.79 on 12/8/10; removed @ $21.73 on 1/10/11; 4.5% gain 

(NYSE:FDO) added @ $44.64 on 1/21/11; removed @ $55.50 on 2/16/11; 24.3% gain 

(GDX) added @ $55.04 on 1/27/11; removed @ $58.58 on 2/22/11; 6.4% gain

(SH) added @ $41.70 on 2/7/11; removed @ $42.71 on 3/15/11; 2.4% gain

(PSQ) added @ $32.67 on 2/7/11; removed @ $33.81 on 3/15/11; 3.5% gain

(RWM) added @ $31.01 on 2/7/11; removed @ $31.55 on 3/15/11; 1.7% gain

(SH) added @ $41.10 on 2/16/11; removed @ $42.71 on 3/15/11; 3.9% gain

(PSQ) added @ $31.91 on 2/16/11; removed @ $33.81 on 3/15/11; 6.0% gain

(RWM) added @ $30.20 on 2/16/11; removed @ $31.55 on 3/15/11; 4.5% gain

(TLT) added @ $89.22 on 2/11/11; removed @ $92.54 on 3/15/11; 3.7% gain

(TIP) added @ $105.39 on 2/11/11; removed @ $109.34 on 3/15/11; 3.7% gain

(SH) added @ $42.38 on 1/27/11; removed @ $42.91 on 3/17/11; 1.3% gain

(PSQ) added @ $32.91 on 1/27/11; removed @ $34.05 on 3/17/11; 3.5% gain 

(RWM) added @ $31.57 on 2/1/11; removed @ $31.36 on 3/17/11; 0.7% loss

 

 

Our watch list/stock of the day is hypothetical and we do not personally execute any transaction based on it.  All prices are based on market open prices on the dates listed above unless position was added/removed from watch intra-day as noted in blog posts.

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