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Byline: JONAH KERI & NANCY GONDO
The Nasdaq finished down less than a point Friday, preserving its 3.6% gain for the week. The Nasdaq 100 eased 0.1% for the day, as volume eased lower.
Packeteer plunged nearly 3 points early in the session. The developer of bandwidth management systems recouped some of its losses, but still closed down 1.62 to 17.48 on nearly four times its normal trade.
Like BioLase Technology and some other micro- and small-cap stocks this week, Packeteer flashed a nasty shakeout soon after its breakout. When buying smaller stocks, be aware of their greater volatility. Buying as close to the pivot point as possible and cutting losses quickly at 7% can help you mitigate risk.
Guitar Center plummeted 3.35, or 9%, to 32.55. The nation's largest retailer of guitars, amplifiers, and other musical instruments traded more than 4 million shares, vs. its average daily volume of about 300,000, as it sliced through its 50-day moving average.
Taser International fell 3.95 to 62.80 on twice its usual turnover. The maker of less-lethal, conducted energy weapons used by law ...