Markets celeberated July 4th holiday with a thumbs UP rally !!!!
All indices were GREEN $$$$$
Nasdaq was the best performer of all the major indices..UP .48%......which reflects the strength in technology stocks......
Technology stocks will be the next group to take "leadership role"..which bodes well for Nasdaq !!
STP closed near its high of the day UP 80 cents...closing @ $38.58.....new closing HIGH since the week of May 14........
YHOO close higher than open @ $27...UP 14 cents......which is a good sign........
SNDK closed down 80 cents on the rumour that.... SNDK will warn.......SNDK announced after the close that its ER will be on 19th July AH thus "no warning"......a day before OE !!!
RIMM lost $6.32 on higher than average volume......a normal giveback after $49 RUNUP.....UBS increased the target to $235 from $210 this AM.......
American Technology group has the highest target on RIMM $300...followed by Goldman @ $260.......
SNDA & FDRY were down on giveback from recent move UP........
Fast Money Bolling & Najarian has been relentless in Bad-mouthing RIMM....for 4 days NOW...they must have a short position.......bring it ON.....RIMM is not a trade..it is a long term HOLD........
FSLR target was increased to $110.........
GOOG & AAPL ready to march to new HIGHS $$$$
Canadian markets are open tommorrow......RIMM & other dual listed stocks will trade in Toronto........
Have a very happy July 4th !!!!
BLOG does not give buy or sell.
Next post thursday @ 11AM est.
Saleem
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