Tuesday, February 1, 2011

First of the month up trade and BIDU helps

SPY closed at 52-week highs at 1307.59, up 1.67%. While the other major U.S. averages went back above their 10-day moving averages to trap the bears at least for one day, IWM up 2.26%, QQQQ up 1.89%.

Breadth was a solid 25 to 5 in favor of advancers as market marched higher all day with the high around 3:45pm. 332 issues made new 50-day highs.

BIDU finished up 10 pts or 9.2% after yesterday afternoon's earnings.

Aerospace was led by FLIR up 3.58%.

Agriculture was led by POT up 2.8%.

Coal favorite PCX surprised with a positive earnings release before the bell and rallied 8.87%.

Materials was the top performing sector of the day, up 2.68% via the XLB.

Energy up 1.63% via the XLE. Big cap oil led the sector gainers as XOM reported record earnings finishing up 4% to 83.91.

Semiconductors led by NVLS up 5.74% and SPRD up 3.12%.

Nasdaq big cappers led by PCLN up 9.41 or 2.2% to 438. AAPL up 5.68 or 1.67% to 345.

No comments: