The Dow Rallies Late to Avoid a Big Drop
By Brendan Byrnes | More Articles
May 23, 2012 | Comments (1)
What a crazy day it was for the Dow Jones Industrial Average (INDEX: ^DJI ) ,
which crawled nearly all the way back to even today after dropping more than
190 points in early trading. Europe was the main catalyst for the drop early in
the day, as investors continued to worry about the possibility of Greece's exit
from the eurozone. But the day turned around late as optimism reigned that the
Greece fears were overblown, and more positive U.S. housing data was digested.
Individually, Bank of America (NYSE: BAC ) was the biggest winner on the day,
while Intel (NYSE: INTC ) and Microsoft were dragged down by Dell's poor
earnings and concern about demand for PCs. Outside the Dow, Facebook (Nasdaq:
FB ) finally had a positive day, gaining 3.2%, but is still down 23.9% since
its IPO on Friday.
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Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool
owns shares of Intel, Bank of America, and Microsoft. Motley Fool newsletter
services have recommended buying shares of Intel, Dell, and Microsoft, creating
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5/23/2012 4:05 PM
^DJI $12496.15 Down -6.66 -0.05%
DOW JONES INDUSTR
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CAPS Rating: ***
--- In [email protected], "aloysiussiwira" <aloysiussiwira@...> wrote:
>
> Wall Street finishes flat in late reversal
> By Edward Krudy
>
> NEW YORK (Reuters) - Stocks staged a late-day reversal on Wednesday, rallying
> into the close in another volatile session as a sharp rise in materials
> shares boosted the S&P 500 and gains in Apple (NSQ:AAPL - News) helped lift
> the Nasdaq.
>
> The action shortly before the market's close was a mirror image of Tuesday
> when stocks gave up gains in the last minutes of trading. The late rebound
> suggested investors saw value in the market after the S&P 500 fell just below
> 1,300 but also underscored the skittishness of the trading environment.
>
> One trader warned not to read too much into the move that lifted the indexes
> near breakeven for the day.
>
> "I don't make anything of this. Volumes are very low, so there's no
> conviction," said Todd Schoenberger, managing principal at the BlackBay Group
> in New York. "We're only hearing what we want to hear. Don't be surprised if
> futures are disappointed tomorrow."
>
> Towards the close traders cited rumors that the European Union was
> considering a proposal to guarantee bank deposits across the bloc. Such a
> move could assuage fears of bank runs in Spain and Greece. The rumors, which
> one trader said may have originated in London, appeared to be unfounded and
> served to highlight the markets' current sensitivity to events in Europe.
>
> Shares in beaten-down materials companies led the S&P 500, with the S&P's
> materials sector gaining 1.1 percent. Alpha Natural Resources (ANR.N) rose 5
> percent to $11.70. Boosting the Nasdaq were shares of Apple, up 2.4 percent
> to $570.56.
>
> In the overall market, the Dow Jones industrial average (DJI:^DJI - News)
> dipped 6.66 points, or 0.05 percent, to 12,496.15. The S&P 500 Index
> (MXP:^GSPC - News) edged up 2.23 points, or 0.17 percent, to 1,318.86. The
> Nasdaq Composite (NAS:^COMP) gained 11.04 points, or 0.39 percent, to
> 2,850.12.
>
> For most of the day shares fell by more than 1 percent as EU officials said
> euro zone countries must prepare contingency plans for a possible Greek exit
> of the currency bloc, while a weak outlook from Dell Inc (NSQ:DELL - News)
> cast doubts about the strength of global tech spending.
>
> Volume on the NYSE, Nasdaq and Amex was above average. Around 7.52 billion
> shares traded compared with a year-to-date average of 6.84 billion. About
> three stocks rose for every two that fell on the NYSE.
>
> Shares in Dell Inc (NSQ:DELL - News) tumbled more than 18 percent and hit
> other tech stocks as the revenue forecast from the third-largest computer
> maker spurred fears that global tech spending was declining faster than
> thought.
>
> Dell plunged 17.2 percent to $12.49, its biggest one-day drop in more than a
> decade.
>
> Hewlett-Packard (HPQ.N) slid more than 3 percent during the regular session.
> But shares of the tech company jumped 10 percent in extended trading after it
> released financial results. HP outlined a multi-year plan including job cuts
> of 27,000 employees, or about 8 percent of its workforce, to spur growth.
>
> The agreement by euro-zone officials on contingency planning for a Greek exit
> of the euro zone, or "Grexit" as some investors are now calling it, came
> during a teleconference of the Eurogroup Working Group on Monday, sources
> told Reuters.
>
> Eric Kuby, chief investment officer at North Star Investment Management in
> Chicago, said renewed concerns about Greece, troubling outlooks from Dell and
> others, worries about the economy, Facebook's disappointing IPO and
> JPMorgan's recent trading loss were adding up to significant headwinds.
>
> "It has made people less likely to jump in there and buy stocks," he said. "A
> lack of good news, some bad news and these worries that have been around for
> a long time make it hard to get a rally going."
>
> The S&P 500 is down 7 percent from a peak in April but is up 4.9 percent for
> the year so far. Some analysts are expecting the index to test its 200-day
> moving average at around 1,280, another 2 percent below current levels.
>
> Facebook Inc (FB.O) and banks, including Morgan Stanley (MS.N), were sued by
> the social networking leader's shareholders, who claimed the defendants hid
> Facebook's weakened growth forecasts ahead of its $16 billion initial public
> offering. The stock was up 3.2 percent at $32 after falling more than 30
> percent from it peak on Friday.
>
> Falling oil prices also depressed the energy sector, with an S&P index of
> energy companies (.GSPE) edging up 0.4 percent into the close.
>
> U.S. July crude oil future fell $2.30 to a session low of $89.55, trading
> below $90 a barrel for the first time since November 1, on easing concerns
> about Iran's nuclear dispute with the West and increasing worries about
> global economic growth.
>
> (Editing by Kenneth Barry)
>
> --- In [email protected], "aloysiussiwira" <aloysiussiwira@> wrote:
> >
> > Dow Jones Industrial Average (^DJI)
> > -DJI
> >
> > 12,496.15 Down 6.66(0.05%) 4:05PM EDT
> > Add to Portfolio
> > Prev Close: 12,502.81
> > Open: 12,501.52
> > Day's Range: 12,311.56 - 12,508.30
> > 52wk Range: 10,362.30 - 13,359.60
> >
> >
> > --- In [email protected], "kangduren" <kangduren@> wrote:
> > >
> > > sama2 sepikiran, aneh saat skr berita banyak yg ga heboh, keknya emang
> > > mau dump, justru skr udah diujung tanduk bener yunani, default ga jelas
> > > kabar dah disambung pemilu yunani.
> > > ga efek gitu, skr justru berita spanyol tenggelam, sementara internal
> > > indo emang lg kurang duit, ketauan harga oil turun, indo malah ga bs
> > > supply full BBM, cari2 duit dr pajak dan bea keluar ke mana2,
> > > kacau........
> > >
> > > --- In [email protected], HY <h16y07@> wrote:
> > > >
> > > > efek psikologis kang...
> > > >
> > > > kasus yunani digantung hingga pertengahan juni...
> > > > sementara berita ekonomi amerika dan eropa semakin memanas.
> > > > investor pasti lebih memilih aman daripada gambling... + moment liburan
> > > > sekolah.
> > > > time to holiday... enjoying the profit.
> > > >
> > > > sambil menunggu perkembangan yunani selanjutnya...
> > > > pemodal besar akan mulai menangkap barang di level tertentu... tanpa
> > > > melakukan perlawanan.
> > > > pemodal tanggung + kecil lebih memilih wait & see sambil menunggu good
> > > > news... (bottom fishing).
> > > >
> > > > dengan demikian saham2 penuh dengan bazzar discount...
> > > >
> > > > sept-okt 2011 ... IHSG sempat menyentuh 3200an...
> > > > maka untuk yang sekarang bisa lebih parah...
> > > >
> > > > terbukti bahwa bank2 eropa saja belum siap kalau yunani out.
> > > > selama ini market hanya dibuai oleh gosip2 yang menjanjikan dan
> > > > meyakinkan agar F****** memiliki kesempatan untuk melepas barangnya
> > > > dengan harga yang masih menguntungkan.
> > > >
> > > > utang pemerintah bertambah demi intervensi nilai rupiah... tapi apakah
> > > > berhasil...
> > > > yang ada semakin kelilit.
> > > >
> > > >
> > > > lihat saja harga GOLD yang sudah cukup memprihatinkan... (hanya gara2
> > > > fre**** diacak-acak pemerintah)
> > > >
> > > >
> > > > *ini sekedar cuap2 pribadi, boleh dipertimbangkan atau diabaikan...
> > > > tapi tidak untuk diprotes.
> > > > namanya juga imajinasi pribadi... DISCLAIMER ON... *
> > > >
> > > > Â
> > > > " Hidupmu adalah Imajinasimu "Â
> > > >
> > > >
> > > > ________________________________
> > > > From: kangduren <kangduren@>
> > > > To: [email protected]
> > > > Sent: Wednesday, May 23, 2012 9:30 PM
> > > > Subject: [saham] Re: IHSG prediksi senin.../ Stock futures signal
> > > > rebound / IHSG - R1 4,002
> > > >
> > > >
> > > > Â
> > > > kapan mau ke 3500? keknya kalo dow bertahan bahkan bisa minus > 150,
> > > > IHSG bisa 3800 nih jumat.
> > > >
> > > > --- In [email protected], HY <h16y07@> wrote:
> > > > >
> > > > > IHSG mau di bawa ke 3500 an kang ... abis itu mantul lagi...
> > > > >
> > > > > kalo patah yaa melorot ke 3100...
> > > > >
> > > > > Pasang seat belt... siapkan amunisi
> > > > >
> > > > > sementara porto short term disisain 15-20 %
> > > > > lari ke property sama showroom mobil dulu... :D
> > > > > BSD kan lagi penawaran kavling 2M an....
> > > > > Mobil bentar lagi masa liburan sekolah... anaknya pada minta beliin
> > > > > mobil baru... :D
> > > > >
> > > > > Juli - Agustus baru intip2 lagi sahamnya... :)
> > > > >
> > > > > ÃÂ
> > > > > " Hidupmu adalah Imajinasimu "ÃÂ
> > > > >
> > > > >
> > > > > ________________________________
> > > > > From: kangduren <kangduren@>
> > > > > To: [email protected]
> > > > > Sent: Wednesday, May 23, 2012 4:14 PM
> > > > > Subject: [saham] Re: IHSG prediksi senin.../ Stock futures signal
> > > > > rebound / IHSG - R1 4,002
> > > > >
> > > > >
> > > > > ÃÂ
> > > > > feeling dan keinginan sih sampe jumat 3800, tapi biasa angan2 susah
> > > > > tercapai......
> > > > > minta diskon gede krn susah milih saham skr, mudah2an dikasih, sesuai
> > > > > keinginan komandan juga, hehehe.....
> > > > >
> > > > > --- In [email protected], "kangduren" <kangduren@> wrote:
> > > > > >
> > > > > > rebound dr 3950, pake sektor industri dan manufaktur, luar biasa
> > > > > > padahal harga gas naik 55%, profit margin bakalan turun, sahamnya
> > > > > > malah banyak yg naik dan tidak koreksi banyak......
> > > > > >
> > > > > > --- In [email protected], "kangduren" <kangduren@> wrote:
> > > > > > >
> > > > > > > wait n see nya moga2 ga sembari pegang2 barang :D
> > > > > > > btw indeks hr ini coba bertahan di support 3950 an...
> > > > > > > cuma bahas teknikal aje ane :D
> > > > > > >
> > > > > > > --- In [email protected], Tikno Susatio <tikno37@> wrote:
> > > > > > > >
> > > > > > > > Untuk menembus R2 dari posisi sekarang nampaknya sulit karena
> > > > > > > > harus naik
> > > > > > > > 1,5% sedangkan hari ini sudah naik 2%. tapi semuanya bisa
> > > > > > > > terjadi, wait n
> > > > > > > > see aja
> > > > > > > >
> > > > > > > > On Tue, May 22, 2012 at 11:07 PM, aloysiussiwira
> > > > > > > > <aloysiussiwira@>wrote:
> > > > > > > >
> > > > > > > > > **
> > > > > > > > >
> > > > > > > > >
> > > > > > > > > TA-IHSG 220512 closing 4,021 up 80 point nembus R1 4,008
> > > > > > > > > Masih ada R2 4,082 dan R3 4,131 yang harus ditembus .
> > > > > > > > > Bisakah IHSG menembus langsung R2 ?
> > > > > > > > > Jika tidak bisa mk ihsg akan sideways corection dulu
> > > > > > > > > mudah2 an dengan support bottom L 3,908-3,920
> > > > > > > > >
> > > > > > > > > Good analyzing
> > > > > > > > >
> > > > > > > > > EGC
> > > > > > > > > aLoy
> > > > > > > > >
> > > > > > > > > --- In [email protected], stock gainer <stockmaniac74@>
> > > > > > > > > wrote:
> > > > > > > > > >
> > > > > > > > > > setelah nyentuh 12700-an, kayaknya dow bakal ambruk lagi :)
> > > > > > > > > >
> > > > > > > > > > On 5/22/12, JsxSniper <jsxsniper@> wrote:
> > > > > > > > > > > Klo liat dowfut seh masih relatif aman dengan target
> > > > > > > > > > > 12668..
> > > > > > > > > > >
> > > > > > > > > > > Disclaimer on..
> > > > > > > > > > >
> > > > > > > > > > > JsxSniper
> > > > > > > > > > >
> > > > > > > > > > > FB : Jsxsniper
> > > > > > > > > > >
> > > > > > > > > > > tw : @jsxsniper
> > > > > > > > > > >
> > > > > > > > > > > From: [email protected]
> > > > > > > > > > > [mailto:[email protected]] On Behalf
> > > > > > > > > Of
> > > > > > > > > > > aloysiussiwira
> > > > > > > > > > > Sent: 22 Mei 2012 12:06
> > > > > > > > > > > To: [email protected]
> > > > > > > > > > > Subject: [saham] Re: IHSG prediksi senin.../ Stock
> > > > > > > > > > > futures signal
> > > > > > > > > rebound /
> > > > > > > > > > > IHSG - R1 4,002
> > > > > > > > > > >
> > > > > > > > > > > TA-IHSG 220512 selasa sesi 1 close 3,987 , walaupun
> > > > > > > > > > > Rebound
> > > > > > > > > > > tapi harus bs nembus R1 4,002 dulu lalu R2 4,082 dan R3
> > > > > > > > > > > 4,129.
> > > > > > > > > > >
> > > > > > > > > > > Wait n see DOW malam ini .
> > > > > > > > > > >
> > > > > > > > > > > Good analyzing
> > > > > > > > > > > aLoy
> > > > > > > > > > >
> > > > > > > > > > > --- In [email protected]
> > > > > > > > > > > <mailto:saham%40yahoogroups.com> ,
> > > > > > >
> > > > > >
> > > > >
> > > >
> > >
> >
>
------------------------------------
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