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Technology, financials stocks strong comeback on Monday

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economy_6 October 24, 2011 (Chinavestor) Transportation, technology and basic material stocks continue to outperform the market in October, but paying attention to details is what really pays out. Stocks of interest include Baidu.com Inc. (NASDAQ:BIDU), Qihoo 360 Technologies (NYSE:QIHU), and LDK Solar (NYSE:LDK) from technology stocks. Other big movers include China Life Insurance (NYSE:LFC), China Finance Online (NASDAQ:JRJC) and Huaneng Power Int. (NYSE:HNP), among others.

Looking at the difference in sector performances from one week to the next, e.g. from October 3-14 versus October 3-21, financials and technology sector portrays the most dramatic moves. Technology stocks were up 24.4% in the first two weeks of October  but fell 8.6% in the third week. See difference between the following two chats.  The decline was 13.2% in the financial sector. Utilities visibly improved. This made a case for technology, utilities and financials stocks for Monday. See what we had to say last Friday to clients about the upcoming week. E-Mail Alerts: October 2011

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And not surprisingly, technology stocks soared on Monday by noon. Qihoo 360 Technology (NYSE:QIHU) is up over 10% as it continues to make up lost ground. Baidu.com Inc. (NASDAQ:BIDU), the stock most responsible for the fallback of the technology sector, is up just shy of 6% by noon! Or how about solar plays: LDK Solar (NYSE:LDKJ) is trading 9.7% higher in just one day. But Yingli Green Energy (NYSE:YGE) is almost as strong with a 8.1% surge.

Or how about the financials sector. Financial stocks were up 10.1% in the first two weeks, largely thanks to China Life Insurance (NYSE:LFC), but fell 13.2% the next week and are down for the month of October. Chances were high for a strong comeback within the sector. Not so surprisingly, China Life Insurance (NYSE:LFC) is doing very well but that's nothing in comparison to China Finance Online (NASDAQ:JRJC), a stock that's up almost 30% just today!

Huaneng Power Int. (NYSE:HNP) continues to show strength. Part of it is due to sound money flows, as we pointed out last Friday.  Money Flows Support HNP



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