Stock Market Summary For Friday, April 1, 2011

BTDStocks
updated | Author's Website

On the day where the March jobs report indicated some growth in the employment area the major indexes rose between 0.3% and 0.5%. However, the S&P 500 and Nasdaq Composite came off their session highs and finished in the lower end of their trading range. Market breadth was stronger on the NYSE than the Nasdaq and investor participation sent mixed signals as well. Even though the market started out strong and gave back some of the strength we are raising the support/resistance levels on the S&P 500 and Nasdaq Composite (see below). For the DJIA the support level is the same and we are increasing its resistance level (see below). All of the market sectors rose in today’s session except for technology which declined 0.2%. This is something to keep an eye as it might be an indication of trouble ahead since technology companies are such an important part of economic growth. Technology companies provide many of the goods and services that we use in our everyday lives. The Semiconductor Index (the SOX) declined as well 1.0% with the major indexes higher. Based on the current stock market direction moving into stock positions slowly remains the prudent approach. Moving in slowly will not expose your capital all at once should the market decide to change its trend to the downside. Next week should be very telling with the first quarter complete, mutual funds done window dressing their portfolios since they need to report their results to shareholders, and the jobs report out of the way. Check the blog before Monday’s open just in case we decide to make adjustments to the watch list.   

 

SUMMARY

 

DJIA: Up 0.5% to 12,377

S&P 500: Up 0.5% to 1,332

Nasdaq Composite: Up 0.3% to 2,790

 

SUPPORT/RESISTANCE LEVELS

 

DJIA: 12,258/12,391

S&P 500: 1,331/1,343

Nasdaq Composite: 2,782/2,799

 

BREADTH FOR NYSE

 

Advancing Issues: TBD

Declining Issues: TBD

Advance/Decline Ratio: TBD to 1

 

New Highs: TBD

New Lows: TBD

High/Low Ratio: TBD to 1

  

SECTOR ANALYSIS

 

Financials was the best performing sector up 0.9% and Technology was the worst performing sector down 0.2%.

 

Other Sectors:

Consumer Discretionary Up 0.6%

Consumer Staples Up 0.5%

Energy Up 0.3%

Health Care Up 0.5%

Industrials Up 0.8%

Materials Up 0.4%

Utilities Up 0.8%

 

OPEN WATCH LIST SYMBOLS (Through Friday, April 1, 2011)

 

Transactions:

 

(SH) added @ $46.03 on 11/12/10; current price @ $41.00; 10.9% loss 

(PSQ) added @ $35.05 on 12/8/10; current price @ $32.55; 7.1% loss

(RWM) added @ $32.79 on 12/16/10; current price @ $29.36; 10.5% loss

(UUP) added @ $22.80 on 1/14/11; current price @ $21.77; 4.5% loss

(EUO) added @ $20.30 on 1/14/11; current price @ $17.71; 12.8% loss

(UUP) added @ $22.20 on 2/1/11; current price @ $21.77; 1.9% loss 

(EUO) added @ $18.97 on 2/1/11; current price @ $17.71; 6.6% loss

(UUP) added @ $22.14 on 2/24/11; current price @ $21.77; 1.7% loss

(EUO) added @ $18.92 on 2/24/11; current price @ $17.71; 6.4% loss

(NASDAQ:AAPL) added @ $340.33 on 2/24/11; current price @ $344.56; 1.2% gain

(NYSE:AGO) added @ $15.25 on 2/24/11;  current price @ $15.00; 1.6% loss

(NYSE:FDO) added @ $50.28 on 3/2/11; current price @ $51.53; 2.5% gain

(UUP) added @ $21.94 on 3/4/11; current price @ $21.77; 0.8% loss 

(EUO) added @ $18.38 on 3/4/11; current price @ $17.71; 3.6% loss

(NASDAQ:NUAN) added @ $17.53 on 3/14/11; current price @ $19.56; 11.6% gain

(UUP) added @ $21.93 on 3/14/11; current price @ $21.77; 0.7% loss

(EUO) added @ $18.34 on 3/14/11; current price @ $17.71; 3.4% loss 

(NASDAQ:CSCO) added @ $17.83 on 3/14/11; current price @ $17.04; 4.4% loss

(UUP) added @ $21.72 on 3/18/11; current price @ $21.77; 0.2% gain 

(EUO) added @ $17.87 on 3/18/11; current price @ $17.71; 0.9% loss

(SH) added @ $42.22 on 3/22/11; current price @ $41.00; 2.9% loss

(PSQ) added @ $33.74 on 3/22/11; current price @ $32.55; 3.5% loss

(RWM) added @ $30.71 on 3/22/11; current price @ $29.36; 4.4% loss

(NYSE:CCJ) added @ $31.44 on 3/23/11; current price @ $30.54; 2.9% loss

(SH) added @ $41.49 on 3/28/11; current price @ $41.00; 1.2% loss

(PSQ) added @ $32.83 on 3/28/11; current price @ $32.55; 0.9% loss

(RWM) added @ $30.08 on 3/28/11; current price @ $29.36; 2.4% loss

(NYSE:CCJ) added @ $29.05 on 3/29/11; current price @ $30.54; 5.1% gain

 

Overall: 

 

(SH) overall average of six positions: average cost @ $42.49; current price @ $41.89; 1.4% loss 

(PSQ) overall average of six positions; average cost @ $33.19; current price @ $33.22; 0.1% gain

(RWM) overall average of six positions; average cost @ $31.06; current price @ $30.42; 2.0% loss

(UUP) overall average of six positions; average cost @ $22.12; current price @ $21.77; 1.6% loss

(EUO) overall average of six positions; average cost @ $18.80; current price @ $17.71; 5.8% loss

(NYSE:AGO) overall average of three positions; average cost @ $14.37; current price @ $14.97; 4.2% gain

(NASDAQ:AAPL) overall average of one position; cost @ $340.33; current price @ $344.56; 1.2% gain

(NYSE:FDO) overall average of one position; cost @ $50.28; current price @ $51.53; 2.5% gain

(NASDAQ:NUAN) overall average of one position; cost @ $17.47; current price @ $19.58; 12.1% gain

(NASDAQ:CSCO) overall average of one position; cost @ $17.83; current price @ $17.04; 4.4% loss

(NYSE:CCJ) overall average of one position; cost @ $30.25; current price @ $30.54; 1.0% gain

 

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

(NYSE:AGO) added @ $13.96 on 3/1/11; removed @ $14.95 on 3/24/11; 7.1% gain

(NYSE:AGO) added @ $13.90 on 3/14/11; removed @ $14.95 on 3/24/11; 7.6% gain

(NASDAQ:NUAN) added @ $17.40 on 3/18/11; removed @ $19.59 on 3/31/11; 12.6% gain

 

 

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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