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Byline: David Saito-Chung
Buyers continued to return to the market on Friday. The Nasdaq composite picked up 2.6%, and finished the week up 5.3%. The Nasdaq 100 gained 2.1%.
Medicals led the list of high-quality stocks that rose on heavy volume. Cytyc roared ahead 2.07 to 26.81, notching a new closing high on nearly nine times its average volume. The stock is a hair below its pivot point of 27.11, and 10 cents above its July 26 high of 27.01 (See Nasdaq Stocks In The News for an explanation of new method to calculate the pivot point).
The maker of the ThinPrep Pap test for cervical cancer won an exclusive contract with the Army, whose screening facilities process 350,000 to 400,000 Pap tests a year worldwide.
Amarin gapped up at the open and shot up 3.11 to 20.51 on double its 50-day average trade. U.S. Physical Therapy climbed 1.24 to 16.23 on heavy volume.
Respironics bolted ahead 2.67 to 35.56 on 90% higher volume than usual. The stock has had trouble surpassing 36, as seen on Aug. 27.
SangStat Medical, which specializes in bone marrow transplant therapies, followed through on Thursday's breakout from a nearly three-month base, gaining 1.43 to a new high ...