DELL Lifts on Buyout Rumor as AAPL sinks Volume ends Mixed
Joshua is a member of The Motley Fool Blog Network -- entries represent the personal opinion of the blogger and are not formally edited.
A very quiet day as volume on the NYSE runs very light below Friday’s level. Apple (NASDAQ: AAPL), Research In Motion (NASDAQ: BBRY) and Dell (NASDAQ: DELL) shares supported the higher volume on the NASDAQ, but were unable to push the NASDAQ into the green. AAPL was able to close above $500, but it continues to come under selling pressure. The DELL news helped the NASDAQ and the rest of the market when it jumped above $12 a share. All in all today was a quiet day on the NYSE. The NASDAQ did see higher volume notching a day of distribution, but with DELL’s move helped remove the sting a distribution day would give. We can argue about the headwinds existing for the market, but for now the uptrend remains in play.
Tomorrow we will get quite a bit of economic news to hit the market at 8:30. We have the following: Empire Manufacturing, Retail Sales, and PPI. It is anyone’s guess to how these figures will move the market, but they will likely move it. At least we can blame the Fiscal Cliff or any move the market will make. There will be a lot made of the retail figures due to the holiday season and how Black Friday may or may not have pulled sales into November rather than December. Boiling it down it is all noise and the market action is all we care about.
Leading stocks acted well today for the most part. We continue to see decent action amongst the leaders. One leader Lululemon (NASDAQ: LULU) was hit in after-hours trading after lower revenue guidance. In after-hours trading the stock is off more than 7%. Ixia (NASDAQ: XXIA) continues to act well push higher by almost 9%. The right side of this pattern didn’t have much volume, but we continue to see positive price action in the stock. We have a few other stocks we were looking at that are close to breaking out or have. You’ll have to check out our forums tonight to get the names.
Action here certainly supports higher prices, but we keep on waiting to see this market push higher. Have a plan and execute the plan. Make this a great week!
BigWaveTrading has no position in any stocks mentioned. The Motley Fool recommends Apple and Lululemon Athletica. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. Is this post wrong? Click here. Think you can do better? Join us and write your own!