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THE REAL MOST ACTIVE Nasdaq Ends With Biggest Annual Gain Since '99.(B)
Byline: DAVID SAITO-CHUNG
The Nasdaq eased 0.3% Wednesday on quieter trade ahead of the New Year's holiday. The composite index finished 2003 with a 50% gain. The Nasdaq 100 gained 49%.
Cal-Maine Foods pulled back for a second straight day, falling 2.21 to 36.71 on four times average volume. After tripling in price from early November, the chicken egg supplier surged 48% in just four sessions starting Dec. 23. That kind of action resembles a climax run, although in Cal-Maine's case the rally has taken place in a relatively short period. The stock still stands more than 70% above its 50-day moving average. Watch to see if the stock rebounds or further declines and forms a new base.
Petroleum Development halted a three-day winning streak, sinking 1.35 to 23.70 on more than double usual trade. The oil and gas developer in the Appalachian basin has rallied 154% since its Aug. 12 breakout. It's one of 22 stocks in the Oil & Gas-U.S. Exploration/Production industry group with an EPS Rating of 90 or higher.
Wheeling-Pittsburgh fell 1.30 to 24.40. It dropped to as low as 22.81 before rebounding in the afternoon. The steel products firm began ...
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