We have the Dow pushing highs, AAPL has bounced off the lows and blue skies are here again.

Is it safe to get back into the pool?

Join us in the weekly Stock Market thread for this weeks discussion.

Questions over how much higher the market can go have kept caution in play, with some technical indicators suggesting the market is overbought.

But the case for investing in stocks is strong, they said, particularly given signs of more strength in the economy, especially Friday’s jobs report, which showed a much higher-than-expected 236,000 workers added to the payrolls in February.

“We’re telling clients to take a more defensive approach to the market right now,” said Frank Fantozzi, chief executive of Planned Financial Services, an independent wealth manager in Cleveland.

Source: Reuters

For Wedneday July 6th, the stock market is rallying today, here are the biggest percentage movers going into the afternoon trade.

ASTI(F)    Ascent Solar Technologies Inc    0.87    49.98%
LEE    LEE Enterprises    1.38    20.00%
HOV    Hovnanian Enterprises Cl ‘A’    1.98    16.47%
INVN    INVN    11.66    15.45%
SLCA    US Silica Holdings Inc    11.32    12.08%
IRM    Iron Mountain Inc    31.80    11.95%
RUSL    Direxion Daily Russia Bull 3x    21.29    11.46%
SYNC    SYNC    12.38    11.23%
GASL    Direxion Daily Nat Gas 3X Bull    20.67    10.42%
WFR    Memc Electronic Materials    1.70    10.39%

Going into the afternoon trade, the S&P is still weaker on the day, but off the lows.

The biggest percentage movers are:

TIII    Tii Network Technologies Inc    2.07    42.76%
GOLF    Golfsmith Intl Holdings Inc    6.05    28.45%
QTWW(F)    Quantum Fuel Sys Tech    0.52    26.48%
VTUS    Ventrus Biosciences Inc    13.18    20.24%
GRPN    Groupon Inc Class A    11.79    19.13%
XNPT    XenoPort Inc    5.86    12.47%
KERX    Keryx Biopharmaceuticals    2.13    12.43%
SYNC    SYNC    10.35    12.01%
HZNP    Horizon Pharma Inc    4.09    11.31%
AGEN    Agenus, Inc.    6.36    10.99%

We had a big sell off yesterday, but a breather today with market internals in the green and ES holding relatively flat  at 1233. Some of today’s hot stocks are getting big bounces off the selling from yesterday.

VXBB    ETRACS Long 2M VIX    110.76    19.39%
ENS    Enersys                                  26.11    18.36%
FRO    Frontline Ltd                        6.03    17.32%
TAT    TransAtlantic Petroleum    1.35    15.38%
FTK    Flotek Industries Inc           8.46    14.02%
ANW    Aegean Marine Petroleum  5.93    13.38%
JST    Jinpan Intl                             9.50    12.69%
OSG    Overseas Shiphldg              14.30    12.60%
MGIC    Magic Software Enterprises    6.04    11.85%
GNK    Genco Shipping & Trading Ltd    9.63    11.71%
AREX    Approach Resources Inc    28.92    10.17%