Technology Stocks Up in a Down Market

Through most of the trading day on Friday, September 2, 2011, these stocks are helping the Technology (NYSE:XLK) sector. Technology companies are trading down significantly after a weak U.S. July jobs report and news of a big contract cancelation between Netflix and Starz entertainment. Long time Wall St. Cheat Sheet readers know to watch stock prices because Technicals on the Stock Chart are Strong’ is one of the ‘T’s in our CHEAT SHEET investing framework.

Shares of National Semiconductor Corporation (NYSE:NSM) are trading at $24.91, up 2 cents (+0%) from the previous close of $24.90. National Semiconductor Corporation designs and manufactures a range of semiconductor products, most of which are analog and mixed-signal integrated circuits.

Stock Price Performance: From August 4, 2011, to September 1, 2011, the stock price had risen 43 cents (1.8%) from $24.47 to $24.90. It saw one of its worst periods between March 3, 2011 and March 10, 2011 when shares fell for six straight trading days, falling 8.9% (-$1.38). The stock price saw one of its best stretches over the last year between April 19, 2011 and April 27, 2011 when shares rose for six straight trading days, rising 0.8% (+19 cents).

MercadoLibre, Inc. (NASDAQ:MELI) is one of the top price gainers. Its stock price is $68.31, which is 11 cents (+0.1%) above the previous close of $68.23. Mercadolibre, Inc. is an online commerce platform in Latin America, called MercadoLibre.

Stock Price Performance: From July 7, 2011, to September 1, 2011, the stock price had fallen $16.83 (-19.8%) from $85.06 to $68.23. The stock price saw one of its best stretches over the last year between March 18, 2011 and April 5, 2011 when shares rose for 13 straight trading days, rising 31.9% (+$20.67). It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight straight trading days, falling 26.6% (-$21.15).

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