Schaeffer's Trading Floor Blog

At the Close

by 4/22/2005 4:12 PM
Stocks quoted in this article:

The bulls...or someone...made a heroic effort into the close...


Chart Courtesy of Thomson/ILX

My alert for NYSE net ticks was ringing off and on as a quick effort boosted the market off its lows. On the trading floor we were discussing who would be so eager to jump into the market like this ahead of the weekend, but failed to see the logic...

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Slipping

by 4/22/2005 3:36 PM
Stocks quoted in this article:

Remember what I said below about the SPX giving up eight of yesterday's 22 point gain? Check out the updated figures below...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1144.4 -15.6 points -1.34 percent
Dow Jones Industrial Average (DJIA) 10084.2 -134 points -1.3 percent
Nasdaq Composite (COMP) 1923.5 -38.9 points -1.98 percent
Russell 2000 (RUT) 585.3 -13.7 points -2.29 percent
CBOE Market Volatility Index (VXO) 15.96 2.33 points 17.1 percent

The spike in net ticks showed absolutely no follow-through as the indices have plunged lower. Is it possible for the indices to give up all of yesterday's gains? Yes - anything is possible. But I don't think that would leave the bulls feeling good heading into next week. This should make for an interesting close to the week...

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WMT

by 4/22/2005 3:24 PM
Stocks quoted in this article:

Earlier in the week I pointed out an optimistic article on Wal-Mart (WMT)...

If you missed it, that article made its way to Schaeffer's Daily Contrarian - "Another Brick in the Wal"...

And while I fear I am beating this topic to death, note that the stock is hitting yet another new annual low but a check of Zacks shows that 67 percent of analysts rank still the stock with a "buy" rating....

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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:

  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.80 percent
  • iShares DJ US Energy (IYE) = +0.75 percent
  • Oil Service HOLDRS (OIH) = +0.63 percent
  • Utilities Select Sector SPDR (XLU) = +0.58 percent
  • iShares DJ US Utilities (IDU) = +0.53 percent
  • streetTRACKS Gold Shares (GLD) = +0.49 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +0.48 percent
  • iShares C&S Realty Majors (ICF) = +0.48 percent

Bottom Performing Sector Exchange Traded Funds:

  • NASDAQ 100 Trust (QQQQ) = -1.57 percent
  • Consumer Discretionary SPDR (XLY) = -1.60 percent
  • iShares Russell 2000 Index (IWM) = -1.82 percent
  • Retail HOLDRS (RTH) = -1.79 percent
  • iShares GS Semiconductor (IGW) = -1.81 percent
  • iShares DJ Transportation Average (IYT) = -1.93 percent
  • Semiconductor HOLDRS (SMH) = -1.95 percent
  • Internet HOLDRS (HHH) = -2.65 percent

As you can see, there is a downward bias as the advancing groups showing mild gains while the declining groups are a bit more aggressive. The advancers show bonds leading the session (you don't see that every day) along with energy and some interest sensitive groups. The downside list shows a mix of tech, transports, retail and small cap funds. The HHH is showing the biggest drop and is diverging from the performance of the CBOE Internet (INX) because the HHH does not include Google (which is up five percent)....

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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permanent link
Stocks quoted in this article:

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

Top Performing Sector Exchange Traded Funds:

  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.80 percent
  • iShares DJ US Energy (IYE) = +0.75 percent
  • Oil Service HOLDRS (OIH) = +0.63 percent
  • Utilities Select Sector SPDR (XLU) = +0.58 percent
  • iShares DJ US Utilities (IDU) = +0.53 percent
  • streetTRACKS Gold Shares (GLD) = +0.49 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +0.48 percent
  • iShares C&S Realty Majors (ICF) = +0.48 percent

Bottom Performing Sector Exchange Traded Funds:

  • NASDAQ 100 Trust (QQQQ) = -1.57 percent
  • Consumer Discretionary SPDR (XLY) = -1.60 percent
  • iShares Russell 2000 Index (IWM) = -1.82 percent
  • Retail HOLDRS (RTH) = -1.79 percent
  • iShares GS Semiconductor (IGW) = -1.81 percent
  • iShares DJ Transportation Average (IYT) = -1.93 percent
  • Semiconductor HOLDRS (SMH) = -1.95 percent
  • Internet HOLDRS (HHH) = -2.65 percent

As you can see, there is a downward bias as the advancing groups showing mild gains while the declining groups are a bit more aggressive. The advancers show bonds leading the session (you don't see that every day) along with energy and some interest sensitive groups. The downside list shows a mix of tech, transports, retail and small cap funds. The HHH is showing the biggest drop and is diverging from the performance of the CBOE Internet (INX) because the HHH does not include Google (which is up five percent)....

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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