Schaeffer's Trading Floor Blog

Checking Back on FNM

by 3/17/2005 1:08 PM
Stocks quoted in this article:

The chart of Fannie Mae (FNM) just caught my eye. The daily chart on the left shows the daily action while the chart on the right is an updated version of the monthly chart we looked at last month...

Created with SuperCharts by Omega Research

A quick check of Zacks shows that just over half of the 18 analysts (56 percent) still rank the stock with a "buy" rating. And please note - if you aren't familiar with my ramblings and rants on FNM, I highly urge you to click on the link above and check out the embedded links that show how deep the complacency runs.

I also wanted to bring this up as yet another big-cap/safe-haven stock that is breaking below support...It almost seems like a theme is developing....


permanent link

Worth a Read

by 3/17/2005 12:48 PM
Stocks quoted in this article:

For those looking for something interesting to read...you might find Bill Fleckenstein's column - "The Fed sees bubbles -- and keeps them secret" - on MSN Money interesting.

Even if you don't agree with his thoughts, you might find the column entertaining. It is not everyday that you see the Fed referred to as a "group of clueless buffoons" and a certain someone labels as the "most incompetent and irresponsible Fed chairman in the history of the world"...


permanent link

Coping with Frustration...

by 3/17/2005 12:09 PM
Stocks quoted in this article:

I have been running data for the last hour...but failed to find what I was looking for. Don't you hate it when your work doesn't yield anything useful? Oh well, that is part of working with the market. Whether is it data for a post or research for a trade, sometimes you have to just walk away and refocus...

To combat that type of frustration, I always try to have some sort of "mindless" activity that I can turn to - something that I can just "do" as opposed to thinking about. In other words, when frustration sets in, I turn my attention to something where my mind can go on autopilot...

Given my current role with the blog, that one of my mindless activity is looking over my quote monitors to see what is moving....

As I did that, I noticed that a number of the stocks we have been tracking are on the move up today such as what we discussed in Southern Peru Copper Corp (PCU), Arch Coal Inc (ACI), and Massey Energy Co (MEE) and United States Steel (X) and AK Steel Holdings (AKS)...


permanent link

Buy-Buy-Buy!

by 3/17/2005 11:06 AM
Stocks quoted in this article:

Okay, maybe that title is a bit dramatic, but my alert for NYSE net ticks did just hit and as you can see below...

There is an general bias to the upside with the exception of housing and gold. Some of the tech groups, which haven't been showing stellar action, are bouncing. Given what I talked about this morning, I am not too surprised by this bounce...

<

permanent link

Checking Back on Toll

by 3/17/2005 10:36 AM
Stocks quoted in this article:

For what it is worth...I was just going through some charts and noticed that Toll Brothers (TOL), which I highlighted last month, was trading below its 50-day moving average. The stock has been flirting with this trendline for the last few days but has yet to close below it. I then checked on its equity scorecard reading and saw that it has dropped to seven. By no means would I call this a calamitous pairing of events but it does signal a slight weakening...


permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.