Schaeffer's Trading Floor Blog

Semis

by 5/12/2005 12:53 PM
Stocks quoted in this article:

As I said I would, I have been digging into the semiconductors to see what is driving the action. I pulled the members of the Semiconductor HOLDRS (SMH) and their percent return so far today. The results are below. As you can see, most of the companies are showing gains on the day. A quick scan of the news for the top movers doesn't reveal anything too exciting so I will check out a couple of other sources...

  • Teradyne Inc (TER) = +3.7%
  • Advanced Micro Devices Inc (AMD) = +3.0%
  • Lsi Logic Cp (LSI) = +2.4%
  • Atmel Cp (ATML) = +2.0%
  • Broadcom Cp (BRCM) = +1.9%
  • Vitesse Semiconductor Cp (VTSS) = +1.9%
  • Micron Technology Inc (MU) = +1.8%
  • Texas Instruments Inc (TXN) = +1.7%
  • Novellus Systems Inc (NVLS) = +1.5%
  • Altera Cp (ALTR) = +1.5%
  • Analog Devices Inc (ADI) = +1.3%
  • Xilinx Inc (XLNX) = +1.0%
  • Applied Materials Inc (AMAT) = +0.8%
  • Intel Cp (INTC) = +0.7%
  • Kla Tencor Cp (KLAC) = +0.6%
  • Linear Tech Cp (LLTC) = +0.4%
  • Maxim Integrated Products Inc (MXIM) = -0.2%
  • Sandisk Cp (SNDK) = -1.5%
  • National Semiconductor Co (NSM) = -1.5%
  • Amkor Technology Inc (AMKR) = -2.7%

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Index Check

by 5/12/2005 12:32 PM
Stocks quoted in this article:

We drift through lunch with the broad market indices chopping around breakeven. However, oil and gold are active...

The headlines are buzzing about crude's break below 49...and while that is doing little to pump up the broad market indices, it appears to be taking a toll on oil related stocks.

A check of the intraday charts of the OSX, XOI, and XNG show they have been sliding for the entire session and just tagged new session lows. Meanwhile, gold (the commodity) just broke below April's low and the HUI has taken out its recent low. This puts the HUI at its lowest point since last summer.

Semis are the strongest group on the session so I will dig into them...

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Choppy

by 5/12/2005 11:26 AM
Stocks quoted in this article:

It appears we may be subjected to another round of choppy action...around an hour ago my alert for NYSE net ticks sounded off as the SPX popped to a new high for the session. I was watching to see if this was able to gain traction but as you can see below, it faltered almost immediately as the SPX sold-off to a new session low....


Chart Courtesy of Thomson/ILX

Now we find the bulls making a push to rally the SPX back...


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One to Watch - MOVI

by 5/12/2005 10:28 AM
Stocks quoted in this article:

Chart watchers might want to keep an eye on Movie Gallery (MOVI) which is rallying after reporting earnings this morning...


Created with SuperCharts by Omega Research

The shares are bouncing off their 50-day moving average after consolidating a strong run up. This has put them in a position to challenge their recent peak - which was an all-time high. I wouldn't call the sentiment profile overwhelmingly pessimistic but short interest stands at nearly 20 percent of the stock's float so there might be some short covering should the stock breakout...

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Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
ArthroCare Corporation (ARTC) 14.3 24.7 32.65 -1.13
Netflix, Inc. (NFLX) 11.8 39.3 12.95 -1.92
KongZhong Corporation (KONG) 9.3 11.4 7.64 -0.66
Sierra Wireless, Inc. (SWIR) 9.3 18.3 7.31 -2.88
Krispy Kreme Doughnuts, Inc. (KKD) 8.6 53.1 7.20 -2.64
Pharmion Corporation (PHRM) 8.3 12.9 24.50 -1.59
Inter Parfums, Inc. (IPAR) 7.0 14.6 17.78 4.36
Red Hat, Inc. (RHAT) 6.8 17.4 12.00 -1.25
Advanced Medical Optics, Inc. (AVO) 6.0 19.5 37.63 -1.78
Salix Pharmaceuticals, Ltd. (SLXP) 6.0 13.9 15.58 -1.41

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