Once again an innocuous start to the day is morphing into some second half momentum. The big news items for the market include an earnings warning from United Health Care (UNH), and reports the company may drop out of Obamacare, and the first day of trading for a couple of well-known unicorns. Match.com (MTCH) and Square (SQ) were humbled a bit having to IPO at lower price levels, but there’s a fair amount of redemption with the first few hours of trading.

Square offered shares at $9.00 after institutions balked at $13.00. With some value available for investors, the shares have popped nicely and at one point changing hands at $14.78 a share. Square is founded by Jack Dorsey who also heads up Twitter (TWTR) which went public two years ago to much more fanfare. Twitter priced at $26.00, opened at $45.00, and hit $50.00 before closing the session at $44.90.

Where Square goes from here remains to be seen. I’m not interested in chasing, but am happy the investing public avoided being duped.

SQ

Match.com priced at $12.00 and currently is higher by 23%. The company has potential, but once again, I’m not looking to chase.

MTCH

I like the action in the market, but we are still in the range, and need to break key resistance with strong volume to really get excited. We are going to hold off on a new idea for now.