Schaeffer's Trading Floor Blog

Final Figures

by 6/14/2005 4:25 PM
Stocks quoted in this article:

While the SPX and DJIA were flat...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1203.9 3.1 points 0.26 percent
Dow Jones Industrial Average (DJIA) 10547.6 25 points 0.2 percent
Nasdaq Composite (COMP) 2069.0 0.0 points 0.00 percent
Russell 2000 (RUT) 634.4 5.4 points 0.85 percent
CBOE Market Volatility Index (VXO) 11.12 -0.38 points -3.3 percent

The RUT actually showed a decent return on the day, relatively speaking...

Overall we see that a few groups actually did buck the broad market malaise...Housing stocks and the XOI led the upside action while gold stocks and semis lagged. The action in the XOI is interesting given the drop in oil and the relative inaction in the OSX and XNG.


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Into the Close

by 6/14/2005 4:15 PM
Stocks quoted in this article:

The action into the close matched what we saw for most of the day...


Chart Courtesy of Thomson/ILX

It was dull and meandering...

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Worth a Read

by 6/14/2005 3:22 PM
Stocks quoted in this article:

Yesterday I discussed the second occurrence of eBay (EBAY) making the cover of a magazine...

Now I just saw this somewhat optimistic article on CNN/Money's website - "eBay's on sale. Time to make a bid?"

I guess it goes without saying that this doesn't make my contrarian side feel warm and fuzzy...


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Buying Dries Up

by 6/14/2005 2:40 PM
Stocks quoted in this article:

My alert for NYSE net ticks was rather active for a short time, but as you can see below, the buying has dried up...


Chart Courtesy of Thomson/ILX

This has left the SPX back to where it was before the buying spurt hit...which was just to the plus side of flat.

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A Surge of Buying

by 6/14/2005 1:51 PM
Stocks quoted in this article:

My alert for NYSE net ticks just hit as the SPX has popped to a new high for the session...A scan of the headlines shows a flurry of one liners noting that a helicopter has gone down near Wall Street but reports seem to indicate that the passengers survived.

Please note, I am not implying that these two event are related, it is just what I am seeing. If there is a catalyst for the buying, it is being overshadowed by this news...


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