Daily Wrap
DJIA -9.52 (-0.07%) to 13,973.39; S&P 500 +1.05 (+0.07%) to 1,521.38; NASDAQ +1.78 (+0.06%) to 3,198.66 The market has been flexing its muscle and trying to show many different things. If your a basketball fan you might say the market is trying to show it can take you to the hole and also hit the step back jumped. The market faced another down move today and ultimately looking back at the chart the first 5 minute bar of the day market the lows. The market continued a steady climb higher and likely used the Unemployment claims, which came in better than expected (341K vs 361K…
Week in Review
DJIA +43.85 (+0.33%) to 13,435.21; S&P 500 +7.10 (+0.49%) to 1,466.47; NASDAQ +1.09 (+0.04%) to 3,101.66 Hopefully slow and steady will win the race when it comes to the Jobs market. Adding another 155K non-farm jobs was just a tick above analysts expectations and the revised Unemployment rate for November to 7.8% held into December. The market started the morning somewhat choppy while seemingly digest the morning’s economic data and then started a near uninterrupted climb closing near highs of the day. Supervalu (SVU) gapped higher and closed up over 13.5% on a Wall Street Journal report that private equity firm Cerberus Capital is close…
Daily Wrap
DJIA +308.41 (+2.35%) to 13,412.55; S&P 500 +36.23 (+2.54%) to 1,462.42; NASDAQ +92.75 (+3.07%) to 3,112.26 The majority of today’s gains were made on the open resulting from the market’s elation on a fiscal cliff deal. I would like to think that this is the last time we focus on Washington but unfortunately I feel it is not. Otherwise today was a strong rally on better than average volume and the second one in a row at that. What was even more interesting was the fact that Small caps and Tech lead (including everyone’s favorite AAPL) which lends to the…
Charts of Interest
Thoughts and analysis are provided on each chart itself or you can go read some quick comments for each at StockTwits (WSConsensus) GMCR, ZIP, GT, DECK, QCOM, AL, AMD, SBUX, EXPD, GTAT, PCLN, TSLA, CIM, CEL, FSLR, RIMM, DISH, ABMD, PANW, RF
Zipcar (ZIP)
Zipcar Inc. (ZIP) was upgraded by Goldman Sachs on November 20th along with an $8.75 price target. The closing price of ZIP on the 19th was $6.36 which means the upgrade represented 37.5% potential upside. The problem is that along with a gap up the morning of the upgrade the stock rallied the next two days to reach a high during intraday trading on 11/13 of $8.64. With Goldman’s target essentially reach, how has this beaten stock acted? Pretty well I think. The stock has flagged on lighter volume and considering the recent pressure the stock has faced it could…