Stock Market Summary For Thursday, April 28, 2011

BTDStocks
updated | Author's Website

Stocks rose in today’s with gains ranging between 0.1% to 0.6% for the DJIA, S&P 500, and Nasdaq Composite. Investor participation was slower in today’s session and market breadth was generally good. The Nasdaq Composite traded the majority of the session lower but a late buying surge allowed the index to rise mildly. Keeping with the trend we are raising the resistance levels on the DJIA, S&P 500, and Nasdaq Composite based on the current stock market direction (see below). The support levels are the same for the DJIA, S&P 500, and Nasdaq Composite (see below). By now it is becoming more difficult to find stocks trading at reasonable levels based on price action. This makes the market vulnerable for a pullback coupled with the fact volatility is extremely low and investor complacency extremely high. If you are not already heavily invested in stocks then the prudent approach right now is not get aggressive with buying stocks. As we mentioned in our blog post a few days ago there are gaps in the S&P 500 and Nasdaq Composite at the 1,313 and 2,745, respectively that might get filled if the stock market goes into correction mode. If you need to own stocks, please see our watch list below. In our watch list today we added a position in the ProShares Ultra Short Oil & Gas Fund (symbol: DUG) at the current intra-day price of $26.80.

 

SUMMARY

 

DJIA: Up 0.6% to 12,763

S&P 500: Up 0.4% to 1,360

Nasdaq Composite: Up 0.1% to 2,873

 

SUPPORT/RESISTANCE LEVELS

 

DJIA: 12,427/12,814

S&P 500: 1,343/1,360

Nasdaq Composite: 2,834/2,873

 

BREADTH FOR NYSE

 

Advancing Issues: 1,872

Declining Issues: 1,169

Advance/Decline Ratio: 1.6 to 1

 

New Highs: 320

New Lows: 9

High/Low Ratio: 36 to 1

 

SECTOR ANALYSIS

 

Utilities was the best performing sector up 0.9% and Energy, Materials, and Technology were the worst performing sectors coming in flat.

 

Other Sectors:

 

Consumer Discretionary Up 0.4%

Consumer Staples Up 0.6%

Financials Up 0.8%

Health Care Up 0.5%

Industrials Up 0.3%

 

OPEN WATCH LIST SYMBOLS (Through Thursday, April 28, 2011)

 

Transactions:

 

(SH) added @ $46.03 on 11/12/10; current price @ $40.05; 13.0% loss

(PSQ) added @ $35.05 on 12/8/10; current price @ $31.54; 10.0% loss

(RWM) added @ $32.79 on 12/16/10; current price @ $28.79; 12.2% loss

(UUP) added @ $22.80 on 1/14/11; current price @ $20.96; 8.1% loss

(EUO) added @ $20.30 on 1/14/11; current price @ $16.25; 20.0% loss

(UUP) added @ $22.20 on 2/1/11; current price @ $20.96; 5.6% loss

(EUO) added @ $18.97 on 2/1/11; current price @ $16.25; 14.3% loss

(UUP) added @ $22.14 on 2/24/11; current price @ $20.96; 5.3% loss

(EUO) added @ $18.92 on 2/24/11; current price @ $16.25; 14.1% loss

(UUP) added @ $21.94 on 3/4/11; current price @ $20.96; 4.5% loss

(EUO) added @ $18.38 on 3/4/11; current price @ $16.25; 11.6% loss

(UUP) added @ $21.93 on 3/14/11; current price @ $20.96; 4.4% loss

(EUO) added @ $18.34 on 3/14/11; current price @ $16.25; 11.4% loss

(NASDAQ:CSCO) added @ $17.83 on 3/14/11; current price @ $17.29; 3.0% loss

(UUP) added @ $21.72 on 3/18/11; current price @ $20.96; 3.5% loss

(EUO) added @ $17.87 on 3/18/11; current price @ $16.25; 9.1% loss

(SH) added @ $42.22 on 3/22/11; current price @ $40.05; 5.1% loss

(PSQ) added @ $33.74 on 3/22/11; current price @ $31.54; 6.5% loss

(RWM) added @ $30.71 on 3/22/11; current price @ $28.79; 6.3% loss

(NYSE:CCJ) added @ $31.44 on 3/23/11; current price @ $29.44; 6.4% loss

(SH) added @ $41.49 on 3/28/11; current price @ $40.05; 3.5% loss

(PSQ) added @ $32.83 on 3/28/11; current price @ $31.54; 3.9% loss

(RWM) added @ $30.08 on 3/28/11; current price @ $28.79; 4.3% loss

(UUP) added @ $21.75 on 4/5/11; current price @ $20.96; 3.6% loss

(EUO) added @ $17.70 on 4/5/11; current price @ $16.25; 8.2% loss

(TLT) added @ $90.50 on 4/7/11; current price @ $93.60; 3.4% gain

(TIP) added @ $108.56 on 4/7/11; current price @ $110.93; 2.2% gain

(VXX) added @ $28.14 on 4/7/11; current price @ $23.15; 17.7% loss

(VXX) added @ $26.72 on 4/19/11; current price @ $23.15; 13.4% loss

(VXX) added @ $23.68 on 4/26/11; current price @ $23.15; 2.2% loss

(DUG) added @ $26.80 on 4/28/11; current price @ $26.42; 1.4% loss

 

Overall:

 

(SH) overall average of six positions: average cost @ $42.49; current price @ $41.41; 2.5% loss

(PSQ) overall average of six positions; average cost @ $33.19; current price @ $32.72; 1.4% loss

(RWM) overall average of six positions; average cost @ $31.06; current price @ $30.14; 3.0% loss

(UUP) overall average of seven positions; average cost @ $22.07; current price @ $20.96; 5.0% loss

(EUO) overall average of seven positions; average cost @ $18.64; current price @ $16.25; 12.8% loss

(NASDAQ:CSCO) overall average of two position; cost @ $17.48; current price @ $17.45; 0.2% loss

(NYSE:CCJ) overall average of three positions; cost @ $29.38; current price @ $29.91; 1.8% gain

(TLT) overall average of one position; cost @ $90.50; current price @ $93.60; 3.4% gain

(TIP) overall average of one position; cost @ $108.56; current price @ $110.93; 2.2% gain

(VXX) overall average of three position; cost @ $26.18; current price @ $23.15; 11.6% loss

(DUG) overall average of one position; cost @ $26.80; current price @ $26.42; 1.4% 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

(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

(NASDAQ:NUAN) added @ $17.53 on 3/14/11; removed @ $19.58 on 4/4/11; 11.7% gain

(NYSE:CCJ) added @ $29.05 on 3/29/11; removed @ $31.07 on 4/4/11; 7.0% gain

(NYSE:AGO) added @ $15.25 on 2/24/11; removed @ $15.05 on 4/5/11; 1.3% loss

(NASDAQ:AAPL) added @ $340.33 on 2/24/11; removed @ $350.70 on 4/21/11; 3.0% gain

(NYSE:CCJ) added @ $27.65 on 4/12/11; removed @ $29.23 on 4/25/11; 5.7% gain

(NASDAQ:CSCO) added @ $17.12 on 4/14/11; removed @ $17.60 on 4/26/11; 2.8% gain

(NYSE:FDO) added @ $50.28 on 3/2/11; removed @ $52.92 on 4/27/11; 5.3% gain

 

The average holding period (in days) for each closed position is 32 days

The average % return for each closed position is 5.4%

 

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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