2:00pm (EST)
Wall Street closed early today and the bulls left us with more presents. The market finished at new highs for the year as Tech led the way once again. The Dow moved higher by 53 points and settled at 10,520 while the Nasdaq bolted higher by 16 points and closed at 2,285. The S&P 500 also closed at new highs for 2009 and is resting at 1,126 (up 6 points for the day) as we get ready for the holidays.
Volume was light as you would expect in a shortened session and has been over the past few weeks but we told you the market would probably have a good week.
One stock that got some extra Christmas love was A123 Systems (AONE, $21.02, up $1.69). The stock rallied nearly 10% on no real news and we were hoping that we would close above $20 today. We got that and then some.
Meanwhile, First Solar (FSLR, $133.80, up $1.22) bounced back after a rough week and looks like it could easily move 10 points up or down next week. We are still watching for a safe entry point but there are too many headwinds facing us with this one.
Research In Motion (RIMM, $66.92, down $0.69) continues to look like it wants to cry “Uncle” and we think shares are poised for a steep drop. It may or may not happen but we are watching for a break below $65 which could take shares back down to the $57-$58 level. If we break below that, it gets nasty.
We wanted to update the current trades before we head out and they are ready in the Members Area. We also wanted to wish each and every one of you a very, Merry Christmas.
We will be back Sunday night with the Weekly Wrap.
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