Schaeffer's Trading Floor Blog

Have A Nice Evening

by 7/11/2005 4:27 PM
Stocks quoted in this article:

Overall, it looks like a fairly positive day in the market...

Crude finished lower and bonds were flat - the rest of the list showed at least small gains...As I touched on at mid-day, oil related stocks were weak at the open, firmed up in the late-morning and rallied into the close. Gold stocks were strong out of the gate and remained that way all day - though the HUI failed to overtake the resistance we discussed.

And speaking of resistance, while the SPX did close at its session highs, it also failed to overtake the level we discussed and that is where I will pick up tomorrow...

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Final Figures

by 7/11/2005 4:10 PM
Stocks quoted in this article:

And while we know the major indices closed their highs, here are the final figures...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1219.4 7.6 points 0.63 percent
Dow Jones Industrial Average (DJIA) 10519.7 71 points 0.7 percent
Nasdaq Composite (COMP) 2135.4 22.5 points 1.06 percent
Russell 2000 (RUT) 671.7 9.6 points 1.45 percent
CBOE Market Volatility Index (VXO) 10.90 0.08 points 0.7 percent

Small caps led the way with the COMP not too far behind. As has been the case, larger caps seem to be struggling to keep up...

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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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