By InTheMoneyStocks.com on March 1st, 2010 11:48am Eastern Time
The markets continue to inch higher with the DOW +0.80%, Nasdaq +1.30%, S&P 500 +0.90%. The markets are inching up even though the dollar is stronger on hope of a global recovery. Personal Income and Spending numbers were released this morning but did not move the futures much either way. The dollar initially gapped higher, then spiked higher but has since fallen sharply. This fall on the dollar off the highs is continuing to allow the markets to trade near their highs.
Key Stocks In Motion
Apple Inc. (NASDAQ:AAPL) continues to soar as it did late last week. The stock is +2.00% on the day at $208.65. Just since Thursday, Apple Inc. has moved from $196.89 to its current levels. This strength is carrying over to the NASDAQ and keeping it up percentage wise more than the DOW and S&P 500. Strong chip sales seem to be giving rise to tech stocks.
SanDisk Corporation (NASDAQ:SNDK) upped its guidance. Positive comments from analysts followed. The stock is soaring today. It is up almost 9.00%. Technically, the stock has resistance at $32.00. A key double top level.
OSI Pharmaceuticals, Inc. (NASDAQ:OSIP) gave confirmation today that they had received an unsolicited bid from Astellas Pharma Inc. to be acquired for $52 per share. As of now the company does not look like it is interested in being bought for that price. The stock is soaring today up $53% to $56.65.
Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com
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