Stocks Trim Losses As Techs Hold Up Better

By JUAN CARLOS ARANCIBIA, INVESTOR’S BUSINESS DAILY 

The stock market closed lower Monday but well off its session lows.


The Nasdaq, which had been down as much as 1.2% in early trading, closed with a 0.2% loss. Strength in techs seemed to help the composite. The S&P technology sector index rose 0.3%, despite a broad market retreat.


The S&P 500 fell 0.3% and the Dow Jones industrial average inched down less than 0.1%. Volume eased across the board, according to early figures. Declining stocks nearly doubled the number of advancers.

In a weak day for financials, credit card stocks also slipped. Visa (V) fell 1% although it remains above its 50-day moving average and 4% away from a new high. American Express (AXP) dropped 1% as it tries to form the handle to a base. Both stocks saw below-average volume.

Completed Trade at 30-Jan-2012

APPLE
01/30/2012    BTC    AAPL Feb12 420 Put    $0.89
01/25/2012    STO    AAPL Feb12 420 Put    $1.41
(profit $0.52 per share for 6 days trade)

BAIDU
01/30/2012    BTC    BIDU Feb12 110 Put        $0.98
01/17/2012    STO    BIDU Feb12 110 Put        $1.52
(profit $0.54 per share for 14 days trade)