Stocks Make New Bull Market Highs

U.S. Stocks continued their seven month bull market, as S&P 500 nudged up against 1,100, before closing at 1,097 and change. Stocks were set to open trading to the upside today on continued positive earnings reports, and held up nicely for the day.

Many high momentum stocks broke out of small consolidations to new highs today. One big one, Apple, will do so on Tuesday morning after it blew away Wall Street earnings estimates after the close of trading. Apple has traded after hours over the $200 level to new all time highs.

With a nice move to the upside, there were some more big intraday moves in day trading stocks. The biggest high flyer of the year, Deidrich Coffee (DDRX), which is up 14,000% from its lows (yes, you read that correctly!), surged another 20% today. This was a classic opening range breakout trade that carried momentum all day into the close. The stock broke out of its early trading range just below $26 and closed at $29.33 on its heaviest volume of trading ever. Have a look at the chart below.



In other markets, like a broken record, the Dollar made new lows and Crude Oil moved higher. Gold also pushed higher to close at $1,058 and change on the December contract. 10 Year Treasury Notes managed to close modestly higher on the session.

Good Trading!

Scott Cole
www.bestdaytradingstocks.com