Schaeffer's Trading Floor Blog

At the Close

by 7/11/2005 4:04 PM
Stocks quoted in this article:

There was a late-day push by the bulls...


Chart Courtesy of Thomson/ILX

And while they weren't able to cover any new ground for the session, it was enough to allow the major indices to close at their highs of the day...

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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Internet HOLDRS (HHH) = +2.08 percent
  • Semiconductor HOLDRS (SMH) = +1.69 percent
  • iShares GS Semiconductor (IGW) = +1.60 percent
  • iShares DJ US Basic Materials (IYM) = +1.33 percent
  • iShares GS Networking (IGN) = +1.15 percent
  • Wireless HOLDRS (WMH) = +1.12 percent
  • Materials Select Sector SPDR (XLB) = +1.12 percent
  • iShares DJ US Real Estate (IYR) = +1.11 percent

Bottom Performing Sector Exchange Traded Funds:

  • Health Care Select Sect SPDR (XLV) = +0.19 percent
  • Retail HOLDRS (RTH) = +0.17 percent
  • iShares DJ US Telecom (IYZ) = +0.17 percent
  • Industrial Select Sector SPDR (XLI) = +0.13 percent
  • iShares DJ US Healthcare (IYH) = +0.13 percent
  • Biotech HOLDRS (BBH) = +0.05 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.00 percent
  • iShares Nasdaq Biotechnology (IBB) = -0.12 percent

As you can see, there is a strong upward bias as just one name from my list is trading lower. On the upside we see a mix of technology, materials and real estate...

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.

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Checking Back on BEBE

by 7/11/2005 3:19 PM
Stocks quoted in this article:

The broad market indices have yet to challenge their morning highs so I am looking around for stocks of interest. Right off the bat I see bebe stores (BEBE) which is a stock I have frequently discussed. When we last looked at it we saw it was testing a short-term support zone which is the site of the recent gap higher. Here is the updated chart...


Created with SuperCharts by Omega Research

After sitting on the support zone for a few days the stock has now bounced to new high territory. A check of the sentiment shows skepticism as nearly 30 percent of the float is sold short and data from Zacks shows that just 38 percent of analysts rate the stock with a "buy"...

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Buying Hits the Tape

by 7/11/2005 2:11 PM
Stocks quoted in this article:

The afternoon has so far been rather quiet as the major indices were more or less drifting sideways to lower...However, my alert for NYSE net ticks just triggered as a spurt of buying hit the market. Earlier this morning I noted how the SPX was touching its highs from mid-June. That area is where this morning's buying demand ran out so it will be interesting to see if this round of buying can challenge this morning's highs...

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Something to Ponder

by 7/11/2005 1:17 PM
Stocks quoted in this article:

On the lighter side...somewhat...I was forwarded a link to a website that offers a "color test". You are presented with the word "red" but it is in a blue font. Below are two buttons, one which says "red" and one which says "blue". You then have just a few seconds to click on the button that corresponds to the font's color. While not extraordinarily difficult to do, your first temptation is to click on the color represented by the word.

From a general interest perspective, I thought this was worth touching on because it highlights how our minds works. From a trading perspective I think this is worth pondering for those who like to look at charts. While chart analysis may seem straight forward enough, it is something that must be interpreted by your brain. And as this simple test shows, some situations can cause momentary short-circuits. For those interested, you can click here to go to the site...

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