Schaeffer's Trading Floor Blog
Stocks quoted in this article:

The broad market indices have bounce from their lunchtime lows but overall gains are still muted. At the sector level, here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Biotech HOLDRS (BBH) = +2.23 percent
  • Semiconductor HOLDRS (SMH) = +1.87 percent
  • iShares GS Networking (IGN) = +1.54 percent
  • iShares Nasdaq Biotechnology (IBB) = +1.38 percent
  • iShares GS Semiconductor (IGW) = +1.30 percent
  • Telecom HOLDRS (TTH) = +1.14 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +1.03 percent
  • iShares DJ US Real Estate (IYR) = +1.01 percent

Bottom Performing Sector Exchange Traded Funds:

  • Energy Select Sector SPDR (XLE) = -0.29 percent
  • iShares GS Natural Resource (IGE) = -0.30 percent
  • iShares GS Software Index (IGV) = -0.34 percent
  • Oil Service HOLDRS (OIH) = -0.35 percent
  • streetTRACKS Gold Shares (GLD) = -0.59 percent
  • iShares DJ US Energy (IYE) = -0.76 percent
  • Materials Select Sector SPDR (XLB) = -1.16 percent
  • iShares DJ US Basic Materials (IYM) = -1.30 percent

In the lead we see biotech and a number of tech related groups as well as real estate. The bottom performing list is more subdued with materials the only group to break the one percent threshold...

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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Readers Respond - Corning

by 7/26/2005 2:58 PM
Stocks quoted in this article:

Mike says - "Nick, can you give me your thoughts on GLW ahead of their earnings report? Thanks"

My response - Since Corning (GLW) is due to report after the close tonight I don't have much time to comment so here is the sentiment...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 82%
  • Number of analysts tracked by Zacks: 11
  • Short interest as a percent of float: 1.2%
  • Short interest ratio: 1.339
  • Put/call ratio percent rank: 16.7%

Overall we see optimism, but it is important to note that the shares have been very strong. On the whole, I would say my comments are somewhat similar to what I said in May. A lack of skepticism doesn't mean the stock has to reverse but I would be cognizant of the uptick in optimism. It appears that the most encouraging aspect is the strong price action. This can persist for sometime but with optimism this high, it is best to be cautious when that fades...

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Stocks quoted in this article:

I was just going through some charts and noticed General Electric (GE)...which is no stranger to this space as I just looked at the sentiment ahead of their recent earnings report...As you can below, their earnings report was of little help to the shares...


Created with SuperCharts by Omega Research

The shares had been holding support near 35 but violated that last month. The stock then bounced back to test that level as resistance. This leaves GE sitting below resistance but above secondary support from the early-2004 peak. You can also see that the shares have been following an uptrending channel (which was discussed here) for the last two years but are currently poised violate this channel if they don't bounce here...

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Index Check

by 7/26/2005 1:37 PM
Stocks quoted in this article:

While the broad market indices are relatively unchanged, a few sectors are on the move...

Networkers and biotech remain the leaders while gold stocks are still the biggest decliner...crude is higher but oil related stocks are pulling back...brokers are also pulling back as the XBD comes off an all-time high...

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Checking Back on GM

by 7/26/2005 12:52 PM
Stocks quoted in this article:

An alert on my screen just hit to notify me that General Motors (GM) is trading above 36.80...Why is that significant? Because that was where the shares closed the day before last week's earnings release. As we discussed the action in mid-March and April has the look of selling climax so many of the "weak hands" may already be shaken out of the stock so the rally back to the "pre-earnings" level seems significant.

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