Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Minyanville's Market Recap: Stocks End Mixed After Late Rally and Tech Boost


The S&P could not sustain the late day rally, but the Dow and Nasdaq closed higher. Techs were a bright Spot again.

Stocks closed mixed today after a decent rally late in the trading day lost steam. The Dow ended up +.08% to 13,124, S&P lost -0.13% to 1451, and the Nasdaq Composite ended down -0.26% to finish at 2559.11.

The tech sector helped boost the bullish argument. Apple (AAPL) stated this morning it had sold its 1 millionth iPhone ahead of its sales target a week after announcing it would slash $100 dollars off the retail price. The stock gained 3.75% to close at $136.71. Read more of the tech sector with Professor Udall's 21 Bullish Predictions For Tech.

VMWare (VMW) was also another hot stock today gaining 12.5% to finish at $78.00. The stock was mentioned frequently on the Buzz and Banter. Professor Cooper suggested taking off a schnitzel, and Professor Katz couldn't understand why the markets were valuing the stock so high. "I'm white hot on virtualization but who the heck is paying $79 per share…?" he said.

In other news, the financials were under pressure as a report by the London Times stated more than $110 bln worth of commercial paper was set to mature this week. For more insight, read Professor Depew's Five Things You Need To Know. In addition, read Minyan Peter's Minyan Mailbag as he offers his insights into this credit cycle. Nevertheless, Toddo had his eye on Goldman Sachs (GS) as he wondered on the Buzz, "Is Goldman screaming "when this tape turns, I'm gonna lead the upside speed?" The stock answered by closing with a 2.5% gain.

For more of today's performances, click here for Professor Tuttle's Winners & Sinners.

At 3:00pm EST today we received consumer credit data which came in at $7.5 bln vs. $8.0 bln cons. The Prior figure was revised to $11.9 bln from $13.2 bln. Minyan Peter offered his thoughts providing more color into the health of the consumer. You can read his views as well as other buzzes that happened real time on our Buzz Bits.

Below is a recap of the idea flow on today's Buzz and Banter. Please note that stocks may appear on both bullish and bearish categories due to long and short term trades by our many Minyanville professors.

Some bullish trade or investment ideas: WYNN, NBIX, DIS, INTC, CELG

Some bearish trade or investment ideas: VMW, WMT, JLL, PPD, INTC, TXI, BBY, LIZ, GRMN, CFC, CLF.

Look out for the following on tomorrow's radar.


8:30 Trade Balance: -$59.0 bln cons.

Also remember Chairman Bernanke speaks tomorrow. Click here for the full trading radar.

Don't stay up too late watching football! We'll see you bright and early! Have a good night!
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos