Day Traders Diary


U.S. stocks open higher once again on this triple witching day, with the major indexes on track for weekly gains of more than 2%, continuing the market's recent rise to new highs for the year. The Dow Jones Industrial Average added 56 points to 9,840. P&G is up 3% on an upgrade. The S&P 500 Index climbed 5 points to 1,070, while the Nasdaq Composite rose 8 points to 2,135. Plenty of upgrades once again. In the tech sector Apple, Google, IBM, and Redhat were all upgraded. All four are higher. Texas Instruments is modestly higher after raising their dividend a penny. Palm is one of the few losers in the Dow, down 4% on disappointing earnings guidance. The financials are quiet this morning. Deutsche Bank was upgraded while Charles Schwab was downgraded. Both are lower. Discover, E-trade, and Lincoln Financial are modestly higher on upgrades. The homebuilders are modestly higher on a sector upgrade at JP Morgan. In the retail space Bed Bath & Beyond and Callaway are higher on upgrades. After the first hour the averages remain quiet. The Dow remained in the green by 20 points. The Nasdaq was unchanged. Through the morning and into the afternoon the averages improved. No sell off. The Dow Jones Industrial Average finished up 36 points to end at 9,820, and up 2.2% for the week. The S&P 500 Index climbed 2 points to 1,068, for a weekly advance of 2.5%. The Nasdaq Composite rose 6 points to 2,132, for a weekly gain of 2.5%.

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