RegMed Daily, Closing Bell, 10/27/11, more attitude in today’s market
Stocks surge to near 3 month highs in wake of EU debt accord and US GDP data. But, this is truly a …headline driven market ….
The stock market’s impressive rally in recent weeks has confirmed the wisdom of those advisers who, in early October, urged investors to get a jump start on the so-called … Halloween Indicator. That indicator, of course, is based on the stock market’s seasonal pattern to turn in its best returns between Halloween and the subsequent May Day. Their advice is motivated in part by the growing popularity of this indicator, which means that more and more investors are jumping the gun and not waiting until Halloween to get back into the stock market (Mark Hulbert). This is one – I truly … never heard of – so now we all … know for the future!
Closing Bell:The NASDAQ closed UP +87.96 (+3.32%) to 2,738.63. The Dow closed UP +339.51 (+2.86%) to 12,208.55.
Who’s up … at the close and any … whys:
Aastrom (ASTM) +$0.07 <+2.77%> to $2.60; Athersys (ATHX) +$0.09 <6.43%> to $1.45; BioMimetic (BMTI) +0.36 <+10.94%> to $3.65;Cytori (CYTX) +$0.22 <7.28%> to $3.24; Dendreon (DNDN) +$1.01 <+10.17%> to $10.94; Geron (GERN) +$0.30 <+13.16%> to $2.58; NeoStem (Amex: NBS) +$0.43 <+6.57%> to $0.689; Pluristem (PSTI) +$0.04 <+1.56%> to $2.60 and StemCells (STEM) +$0.04 <+2.04%> to $2.00