Schaeffer's Trading Floor Blog

Longer-Term View

by 7/19/2005 1:37 PM
Stocks quoted in this article:

While I normally focus on the daily action, I think it is important to occasionally step back and widen the view...In that spirit, I modified the query I run each Friday for my weekly ETF column to pull the top and bottom performing Exchange Traded Funds (ETFs) over the last month. There is nothing all too significant about that timeframe, I just wanted to get a feel for where the near-term momentum has been. I have also included the year-to-date performance for these to give you more perspective...

Year-to-Date Returns for the Top Performing ETFs:

  • Semiconductor HOLDRS (SMH) +12.3%
  • iShares Semiconductor (IGW) +8.7%
  • iShares Nasdaq Biotech (IBB) -1.8%
  • Biotech HOLDRS (BBH) +21.1%
  • iShares Technology (IYW) +1.5%
  • Retail HOLDRS (RTH) +3.6%
  • iShares Technology Indx (IGM) -0.7%
  • iShares Networking (IGN) -3.3%
  • Technology Sector SPDR (XLK) +0.4%
  • Software HOLDRS (SWH) -8.0%

Year-to-Date Returns for the Bottom Performing ETFs:

  • Telecom HOLDRS (TTH) -6.0%
  • Materials Sector SPDR (XLB) -4.6%
  • iShares Treas Bond (TLT) +5.7%
  • iShares Healthcare (IYH) +5.1%
  • Energy Sector SPDR (XLE) +25.0%
  • Health Care Sector SPDR (XLV) +3.6%
  • iShares Energy (IYE) +22.1%
  • Pharmaceutical HOLDRS (PPH) +0.9%
  • streetTRACKS Gold (GLD) -4.2%
  • iShares COMEX Gold Trust (IAU) n/a

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Index Check

by 7/19/2005 12:36 PM
Stocks quoted in this article:

To go along with the chart below, here's were the major indices stand...

For the most part we still see an upward bias as there are no significant decliners...Internet stocks continue to lead ahead of upcoming reports from Yahoo (YHOO) and Google (GOOG)....Semis have also perked up ahead tonight's report from Intel (INTC)...

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Chart Chatter - SPX Intraday

by 7/19/2005 12:29 PM
Stocks quoted in this article:

Before I stepped away I noted a bout of buying hit the tape. Here is the "end" result...

Chart Courtesy of Thomson/ILX

I expected that the bulls would have been able to use this morning's strength as a spring board to push higher but it appears the market is a bit sluggish. However, the SPX has been holding intraday support near 1225 and the day is still (somewhat) young so I would not call it a failure yet...

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Quick Thoughts

by 7/19/2005 11:09 AM
Stocks quoted in this article:

My interview is over and I am back to my screen...In between questions, I did manage to make some quick (albeit random) observations about the action...

  • New low on the VXO as it enters the world of single digits...
  • 1233 was last week's high water mark for the SPX so I suspect at least a few eyes are on that number...
  • DJIA so far having trouble overtaking its mid-June peak...
  • The COMP is trying to push above last week's high...
  • New annual high for the SMH...
  • Boston Scientific (BSX) has so far failed to gain traction on their earnings report...

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Buying Hits the Tape

by 7/19/2005 10:19 AM
Stocks quoted in this article:

I was almost ready to make a post that I was surprised to see that my alert for NYSE net ticks was so far quiet...given the upside bias... but I am glad I waited as my alert just triggered.

I would like to watch the action tick-by-tick here to see how much buying hits the tape but I need to step away from my screen (for just a few moments) to prepare for a interview with a reporter. I will be back to the action as soon as that call over...

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