Schaeffer's Trading Floor Blog

Underloved Stocks

by 7/12/2005 8:51 AM
Stocks quoted in this article:

For those who like to do their own research, I have some stocks for you to examine. As I have mentioned before I like to run a simple query to find "underloved" stocks...

In a nutshell this scan returns stocks that have a healthy level of their float sold short and have a relatively low number of buy ratings, based on data from Zacks. I have also included the percent rank of the SOIR (Schaeffer's put/call open interest ratio), but I did not exclude stocks based on the SOIR since I prefer to dig into the option activity personally. I did, however, bold those that are showing a relatively high put/call ratio.

Today's list is sorted based on the price performance over the last month because I wanted to see what stocks have been perking up recently. I should also note two caveats - 1) I have not gone through the stocks on this list yet so their might be merger related situations or some other action that is boosting the stock. 2) I kicked off the scan before I left last night so the data is as of yesterday.

I will be going through this list to find potential stocks for my weekly homepage column but I will also be discussing some of these stocks later on here in the blog....

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Following Up on Genentech

by 7/12/2005 8:23 AM
Stocks quoted in this article:

Yesterday, at Doug's request, we looked at Genentech (DNA) ahead of their earnings release and noted that 85 would be a big level for the stock....Specifically I said I thought it would it would take some stellar comments from the company to push through that level. As the intraday chart from yesterday shows, DNA share tagged 85 in the morning and then sold off to their intraday lows ahead of the report.

Without a doubt Genentech numbers were strong as they topped expectations and raised earnings guidance. More details can be found in their release.

In pre-open action (which tends to be volatile - especially on NYSE issues) the shares are right back to challenge 85 so today's action should be interesting...

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Good Morning

by 7/12/2005 8:05 AM
Stocks quoted in this article:

We follow yesterday's broad based rally with some quiet pre-open stock futures action. With an hour and a half until the opening bell, S&P futures are flat against fair value. Oil is up 40 cents to 59.32. Gold is down 10 cents to 426.20.

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Have A Nice Evening

by 7/11/2005 4:27 PM
Stocks quoted in this article:

Overall, it looks like a fairly positive day in the market...

Crude finished lower and bonds were flat - the rest of the list showed at least small gains...As I touched on at mid-day, oil related stocks were weak at the open, firmed up in the late-morning and rallied into the close. Gold stocks were strong out of the gate and remained that way all day - though the HUI failed to overtake the resistance we discussed.

And speaking of resistance, while the SPX did close at its session highs, it also failed to overtake the level we discussed and that is where I will pick up tomorrow...

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Final Figures

by 7/11/2005 4:10 PM
Stocks quoted in this article:

And while we know the major indices closed their highs, here are the final figures...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1219.4 7.6 points 0.63 percent
Dow Jones Industrial Average (DJIA) 10519.7 71 points 0.7 percent
Nasdaq Composite (COMP) 2135.4 22.5 points 1.06 percent
Russell 2000 (RUT) 671.7 9.6 points 1.45 percent
CBOE Market Volatility Index (VXO) 10.90 0.08 points 0.7 percent

Small caps led the way with the COMP not too far behind. As has been the case, larger caps seem to be struggling to keep up...

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