Stocks Soar On EU Bailout
Monday, May 10, 2010
Market Commentary:
Stocks surged around the world after European policy makers announced a $1 trillion bailout package designed to end the region’s sovereign-debt crisis and save the euro. Volume totals were reported lighter on both the NYSE and on the Nasdaq exchange compared to Friday’s very high levels. Advancers trumped decliners by more than a 10-to-1 ratio on the NYSE, and by a 7-to-1 ratio on the Nasdaq exchange. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange. There were 7 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 0 issues that appeared on the prior session. Waning leadership has been evidenced by the recent lack of stocks making new highs as the rally came under pressure.