CDC CORP CL A (CHINA) 2.53 $0.06 (2.43%) 04:19PM (15 mins delay)

Techs Lead The Market Rally

May 27, 2009 - 1:10 AM EDT

Andy Wang submits:

The market opened down today, but, immediately bounced higher, cheering the surging consumer confidence! Personal computer and smartphone stocks were especially strong, including AAPL +6.76%, RIMM +6.55%, PALM +10.38%, IBM +3.07%, and DELL +2.67%. Speaking of smartphone stocks, does GOOG count? Well, it also jumped today, up $10.86, closing above $400.

This weekend, in my Market Forecast, I wrote, "Although this rally looks to be struggling, I'm not necessarily convinced that it is done." Well, here we are, the rally is trying to get going again! Most sectors were higher today. Energy and commodity sectors also went up after a slow start. Chinese stocks seemed to be drawing buyers back in as well: SOHU +7.02%, CHINA +9.1%, KONG +16.1%, STP +11.62%, YGE +19.14%!

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Source: Seeking Alpha (May 27, 2009 - 1:10 AM EDT)